Question
If sales are Rs.6,00,000 ; Gross profit is 1/3 on cost; Purchases are Rs.4,90,000 and the Closing stock is Rs.90,000 , then the opening stock
If sales are Rs.6,00,000; Gross profit is 1/3 on cost; Purchases are Rs.4,90,000 and the Closing stock is Rs.90,000, then the opening stock will be_________.
A. Nil
B. Rs.50,000
C. Rs.2,00,000
D. Rs.4,90,000Step by Step Solution
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
