Costing Problems and Solutions

Costing Unsolved Problems PDF Download

Problems # 1: 

Ascertain Cost of Goods Sold from the following figures:

Purchases Rs. 5,000; Opening Stock Rs. 15,000; Closing Stock Rs.7,000.

Solution:

Problems # 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.

Solution:

3. Ascertain Purchases from the following figures:

Cost of Sales Rs. 90,000; Ending Inventory Rs. 7,000; Beginning Inventory Rs. 15,000.

Solution:

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.

Solution:

>> Practice Multiple-choice Question Costing MCQS.

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