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Value of closing stock if, opening stock=60000 purchases=90000 sales=120000 gross profit on cost is 33 1/3%?

CPT Final Accounts
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Question added by vishakha Abichandani
Date Posted: 2018/06/11
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Seeni Mubarak Syed Ibrahimsha
by Seeni Mubarak Syed Ibrahimsha , Accountant , Accutrol Systems General Trading LLC

Value of Closing Stock Sixty Thousand

Muhammad Ahsan Javed
by Muhammad Ahsan Javed , Manager Accounts And Finance , East Telecommunications (Pvt) Limited

Opening Stock             60,000

Purchases                   90,000

                                 150,000

Less-cost of sales        89,925

Closing Stock            60,075

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