the profits for 1988-99 are Rs2000; for 1999-2000 isRs 26100 and for 2000-01 is Rs 31200. closing stock for 1999-2000 and 2000-01 includes the defective items of Rs 2200 and Rs6200 respectively which were considered as having market value NIL. Calulate goodwill on average profit method.
a. rs23700
b.rs 17700
c.rs13700
d.rs17300
can anone answer this question?
thanks in advance:)
CAclubindia
