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.

Calculate the value of closing stock from the following Particular Amo

1.	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
Answer» C. ` 55000

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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.

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