Sales – #232,000
Opening stock – # 28,000
Purchases – #128,000
Carriage inwards – # 4,000
Carriage outwards – # 6,000
Closing stock – # 10,000
Discount received – # 18,000
Expenses – # 20,000
A. #100,000
B. #86,000
C. #82,000
D. #76,000
Correct Answer:
Option A – #100,000
Explanation
sales ———————————————–232,000
Add: disc. received —————————-18,000
opening stock ——————28,000
+ purchase ———————128,000
cost of gds. avail. for sale—-156,000
Less: closing st——————-10,000
Cost of goods sold ————146,000
Add Carriage inwards ——- 4000 ——— 150000
Gross profit ————————————– 100,000
