Question

A company purchased goods for Rs. 5,00,000 and sold 80% of such goods for Rs. 4,50,000 during the year. The market value of remaining goods was Rs. 90,000. The value of closing stock should be: *

Answer 1

Answer:

Purchased goods A/c Dr. 5,00,000

To cash A/c 4,00,000

Explanation:

To sales A/c 9,00,000