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    Inventories Home Work 5 Day

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    Diya Jain
    Physical verification of stock on March 22nd, 2016 valued the stock at Rs. 8,00,000. Between then and March 31st, goods worth Rs. 80,000 were unsold on consignment, purchases of Rs. 2,00,000 were made but Rs. 70,000 of goods were delivered on April 5th, and sales of Rs. 3,70,000 included Rs. 1,20,000 of goods sent on approval with half returned by March 31st. The value of physical stock and stock for the financial statement on March 31st, 2016 was Rs. 6,26,000.

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    Inventories Home Work 5 Day

    Uploaded by

    Diya Jain
    13 views1 page
    Physical verification of stock on March 22nd, 2016 valued the stock at Rs. 8,00,000. Between then and March 31st, goods worth Rs. 80,000 were unsold on consignment, purchases of Rs. 2,00,000 were made but Rs. 70,000 of goods were delivered on April 5th, and sales of Rs. 3,70,000 included Rs. 1,20,000 of goods sent on approval with half returned by March 31st. The value of physical stock and stock for the financial statement on March 31st, 2016 was Rs. 6,26,000.

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    Home work of inventory

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    Inventories Home Work 5 Day

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    Physical verification of stock on March 22nd, 2016 valued the stock at Rs. 8,00,000. Between then and March 31st, goods worth Rs. 80,000 were unsold on consignment, purchases of Rs. 2,00,000 were made but Rs. 70,000 of goods were delivered on April 5th, and sales of Rs. 3,70,000 included Rs. 1,20,000 of goods sent on approval with half returned by March 31st. The value of physical stock and stock for the financial statement on March 31st, 2016 was Rs. 6,26,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    13 views1 page

    Inventories Home Work 5 Day

    Uploaded by

    Diya Jain
    Physical verification of stock on March 22nd, 2016 valued the stock at Rs. 8,00,000. Between then and March 31st, goods worth Rs. 80,000 were unsold on consignment, purchases of Rs. 2,00,000 were made but Rs. 70,000 of goods were delivered on April 5th, and sales of Rs. 3,70,000 included Rs. 1,20,000 of goods sent on approval with half returned by March 31st. The value of physical stock and stock for the financial statement on March 31st, 2016 was Rs. 6,26,000.

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    of 1

    Inventories

    HOME WORK

    Q.1 Physical verification of stock in a business was done on 22rd March 2016. The
    value of the stock was Rs. 8,00,000 The following transaction took place between
    22rd March to 31th March ,2016:
    1. Out of the goods sent on consignment, goods at cost worth Rs 80,000 were
    unsold.
    2. Purchases of Rs.2,00,000 were made out of which goods worth Rs. 70,000
    were delivered on 5th April, 2016.
    3. Sales were Rs. 3,70,000 which include goods worth Rs.1,20,000 sent on
    approval. Half of these goods were returned before 31th March 2016, but no
    information is available regarding the remaining goods.
    4. Goods are sold at cost plus 25%. However goods costing Rs. 80,000 had been
    sold for Rs.30,000 Determine the value of Physical stock & stock for fin.
    Statement on 31th March ,2016.

    Answer:-
    Q.1= 6,26,000

    Page no.
    1

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