Menu
Valuation of inventories
avg inventory =?12000
closing inventory is 3000 more than opening inventory..
the value of closing inventory is .....??
1.1200
2.2400
3.10500
4.13500
ans is 4. but how is it so?
pls help me I'm not getting it..
Replies (4)
Let, opening stock=x
Closing Stock=x+3000
hence, Average Stock=x+x+3000/2=2x+3000/2=x+1500
Also, average stock=12000,
therefore, x+1500=12000 or x=10500
Hence, Opening Stock=x=10500
and Closing Stock=x+3000=10500+3000=13500
Thanks a lot Sir...
Oohh I didn't know the formula of avg inventory thank u once again sir..
You're welcome !!
Recent Topics :
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
Related Topics :
CAclubindia
