A business has opening stock of Sh 12,000 and closing stock of Sh 18,000. Purchase returns were Sh 5,000. The cost of goods sold was Sh 111,000. The purchases were Select one: a. Sh 110,000 b. Sh 122,000 c. Sh 116,000 d. Sh 100,000

During the month ended 31 October 2019, your business made a gross profit of Sh 60,000 which represented a mark-up of 50 per cent. Opening stock was Sh 12,000 and closing stock was Sh 18,000. Determine the value of: (Write your answers with commas e.g. 10,000 not 10000) Cost of goods sold = Sh Cost of goods available for sales = Sh Value of goods purchased = Sh Total sales = Sh

16.We adjust the opening and closing inventory to ensure the sales made during the year to match with? we arrive at, select the suiatable option.  A. Actual value of goods  B. Actual cost of goods  C. Actual COGS  D. Actual profit

The following information relates to a business at its year end Item Amount (Sh) Item Amount (Sh) Sales 600,000 Opening stocks: Purchases of raw materials 100,000 Raw materials 20,000 Returns inwards 10,000 Work in progress 4,000 Returns outwards 15,000 Finished goods 68,000 Carriage inwards 8,000 Closing stocks: Carriage outwards 12,000 Raw materials 22,000 Direct labour 80,000 Work in progress 8,000 Factory overheads 150,000 Finished goods 60,000 Determine the following: (Write your answers with commas, e.g. 10,000 not 10000) 1. Cost of manufacturing during the year = Sh 2. Cost of goods manufactured = Sh 3. Cost of goods sold = Sh 4. Gross profit = Sh

Question # 1The cost of inventory on hand of a firm on 31-12-2013 was Rs. 800,000.There were doubtsregarding its condition and net realizable value. It was found that:• The good stocks were 75% and were expected to realize the normal sales price of costplus 25%.• 15% were slightly damaged and required an expenditure of 10% of the sale value formaking it readily saleable at the normal price.• 10% was damaged and would fetch only 60% of the normal sale price.Required:Value of inventory to be shown in the statement of financial position

Brewery Ltd made net sales of $39 700 and its gross profit was $29 100 for the same period. If the opening stock was $15 860 and net purchases $18 615, what was the value of closing stock