question_answer

Calculate the value of closing stock from the following

Particular	Amount (`)
Opening stock	60000
Purchase	90000
Sales	120000
Gross Profit on Cost	33 1/3%

Due to fire stock costing ` 25000 destroyed and insurance claim was accepted for ` 8000.

A)                                  ` 40000                                   

B)  ` 35000

C)  ` 55000                                   

D)  ` 60000