Costing Problems and Solutions
1. Ascertain Cost of Goods Sold from the following figures:
Purchases Rs. 5,000; Opening Stock Rs. 15,000; Closing Stock Rs.7,000.
2. Ascertain Gross Profit / Loss form the following figures:
Closing Stock Rs. 1,500; Sales Rs. 14,000; Opening Inventory Rs. 12,000; Net Purchases Rs. 7,500; Rs. Return Inward Rs. 2,500.
3. Ascertain Purchases from the following figures:
Cost of Sales Rs. 90,000; Ending Inventory Rs. 7,000; Beginning Inventory Rs. 15,000.
4.From the following information extract Gross Profit and Net Profit:
Opening Inventory Rs. Rs. 3,000; Purchases Rs. 14,000; Sales Rs. 22,000; Closing Inventory Rs. 5,500; Sales Return Rs. 1,500; Salaries Rs. 500; Financial Charges Rs. 1,500; Carriage Inward Rs. 150; Salaries Outstanding Rs. 400 ; Carriage Outward Rs. 100.
>> Practice Multiple-choice Question Costing MCQS.