Opening Stock Rs 15,000, Sales Rs 48,000, Carriage Inwards Rs 3,000, Sales Return Rs 3,000, Gross Profit Rs 18,000, Pruchases Rs 30,000, Purchases Return Rs 2,700.
Calculate Closing Stock and Cost of Goods Sold

Enter the following in the books of Karan, Delhi to close his accounts on 31st March, 2019. Pass the closing entries. Opening Stock Rs. 20,000, Purchases Rs. 60,000, Wages Rs. 12,000, Salaries Rs. 16,000, Sales Rs. 88,000, Freight Inwards Rs. 4,000, Purchases Return Rs. 2,000, Sales Return Rs. 3,000, Carriage Outwards Rs. 2,500, Rent Rs. 3,000, Insurance Rs. 1,000, Discount Allowed Rs. 2,000, Discount Received Rs. 1,000, Repairs Rs. 1,000, Electricity Rs. 1,500, Commission Received Rs. 4,000, Interest on Investments Rs. 1,800, Interest (Dr.) 1,000, Closing Stock Rs. 40,000.

Opening Stock Rs 30,000, Purchases Rs 54,6000, Expenses on Purchases Rs 6,000, Sales Rs 90,000, Expenses on Sales Rs 3,000, Closing Stock Rs 36,600. Calculate Cost of Goods Sold and Gross Profit