Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find out the following missing values ------------------------------------------------------ (20) Purchase price of the inventory Rs=1,200,000, + Freight-in Rs=8,000, Purchase returns Rs= 50,000, Purchase allowances Rs=10,000, Purchase

Find out the following missing values ------------------------------------------------------ (20)

Purchase price of the inventory Rs=1,200,000, + Freight-in Rs=8,000, Purchase returns Rs= 50,000, Purchase allowances Rs=10,000, Purchase discounts Rs= 28,000.Net purchases of inventory?

Cost of Purchases Rs=15000, Cost of Goods available for sales Rs= 25000, Cost of beginning inventory Rs=?

Cost of Goods available for sales Rs= 50,000, Cost of Goods sold Rs= 43000, Cost of Ending inventory Rs=?

Sales Rs= 10,000, Gross Profit Rs= 3,000, Cost of Goods Sold Rs=?

Gross profit Rs= 5,000, Gross Profit Percentage= 20%, Sales/Sales Revenue Rs=?

kindly answer me in ! hour. i need answers urgently

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions