If sales are Rs.6,00,000 ; Gross profit is 1/3 on cost; Purchases are Rs.4,90,000 and the Closing

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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.4,90,000

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jan 31, 2023 02:49 AM

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If sales are Rs.6,00,000 ; Gross profit is 1/3 on cost; Purchases are Rs.4,90,000 and the Closing

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