Calculate the missing data.

Question

BlackTom AI · Accepted Answer

To tackle this problem, I will first identify the given figures and the relationships between them in the data table.
- Sales (Revenue) = 42,000
- Opening Stock (Inventory at start) = 4,400
- Net Purchases = 34,000
- Closing Stock = ? (unknown in the question, this is what we need to determine)
- COGS (Cost of Goods Sold) = ? (cannot be determined until Closing Stock is known)
- Operating Expense = 5,000 (given)
- Net Profit/Loss = (given as) (300) i.e., a net loss of 300

Now, we use the standard cost of goods sold relationship:
COGS = Opening Stock + Net Purchases − Closing Stock
Plugging in known values yields:
COGS = 4,400 + 34,000 − Closing Stock = 38,400 − Closing Stock

Next, compute Gross Profit once COGS is known:
Gross Profit = Sales − COGS
Net Profit/Loss is then:
Net Profit/Loss = Gross Profit − Operating Expense

Option by option analysis:
- Option a: Closing Stock = 3,900; COGS = 42,300; Operating Expense = 4,700
  If Closing Stock were 3,900, COGS would be 38,400 − 3,900 = 34,500, not 42,300. So this option is inconsistent with the COGS formula and the given Sales/Opening/Net Purchases.
- Option b: Closing Stock = 1,400; COGS = 37,000; Operating Expense = 4,700
  Using the COGS formula with Closing Stock 1,400 gives COGS = 38,400 − 1,400 = 37,000, which matches the stated COGS. Then Gross Profit = 42,000 − 37,000 = 5,000. Net Profit/Loss = 5,000 − 4,700 = 300, but the table shows a net loss of (300). This discrepancy means this option cannot be correct given the Net Profit/Loss value provided (300 loss).
- Option c: Closing Stock = 1,400; COGS = 37,000; Operating Expense = 5,300
  As above, Closing Stock 1,400 yields COGS 37,000 (consistent). Gross Profit = 42,000 − 37,000 = 5,000. Net Profit/Loss = 5,000 − 5,300 = −300, which matches the shown Net Profit/Loss (300 loss). All other figures align, so this option is internally consistent.
- Option d: Closing Stock = 3,300; COGS = 41,700; Operating Expense = 5,300
  If Closing Stock were 3,300, COGS would be 38,400 − 3,300 = 35,100, not 41,700. This is inconsistent with the COGS formula and the given inputs, so this option is incorrect.

In summary, evaluating each choice against the fundamental equations (COGS = Opening Stock + Net Purchases − Closing Stock; Gross Profit = Sales − COGS; Net Profit/Loss = Gross Profit − Operating Expense) shows that option c is the only one that satisfies all relationships and the provided Net Profit/Loss figure.

FNDN Accounting 2025 STD O2

Calculate the missing data.

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