Question

A dealer sends his goods on sale or return basis He sends goods for Rs10,000 and records as normal sale. The profit on sale is 20%. the value of physical inventory taken is Rs50,000. Then the value of closing inventory appearing in the balance sheet will be: (a) Rs50,000 (b) Rs60,000 (c) Rs 57,500 (d) Rs 58,000

Answer 1

option ➡️ (b) Rs60,000

Hope this helps you