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Prepare the calculation for Cost of Goods Sold and Gross Profit based on the provided figures.

Accounting

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Step-by-step solution

2 steps

  1. Calculate Cost of Goods Sold (COGS).

    The unadjusted trial balance shows Purchases (net) of Rs. 200,000. Additional information (i) states closing stock is Rs. 50,000. Assuming no opening stock is given, COGS is calculated as:

    COGS=Purchases (Net)−Closing StockCOGS=Rs. 200,000−Rs. 50,000=Rs. 150,000\text{COGS} = \text{Purchases (Net)} - \text{Closing Stock} \\ \text{COGS} = \text{Rs. } 200,000 - \text{Rs. } 50,000 = \text{Rs. } 150,000

  2. Calculate Gross Profit.

    Sales Revenue (net) from the

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