What Is Closing Stock, Matched Expenses, And Profit In The Following Transaction? How To Calculate?


2 Answers

Yasir Baqar Profile
Yasir Baqar answered
Hi! Friend, the ans of this question is,
Purchases   10000
Sales   9000
Cost of sales   6000
Ending Inventory= Opening Inventory(if any)+Purchases-   Cost ofgoods sold
  = 10000-6000
Ending Inventory = 4000
Profit   = Sales- cost of sales
  = 9000-6000
Profit     = 3000
Here 1000 is nothing, its a confuson in your mind. And Purchases are categorized in Expenses. And revenue here is the synonym of Profit.

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