Accountancy, asked by yashiagar862, 1 year ago


accounts ca foundation inventory questions

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Answered by nidaeamann
0

Answer:

Explanation:

Few of the questions related to CA foundation inventory subject;

How do you define determination of income?

What is liquidity capital abd how we will do it analysis?

M/s    X,    Y  and  Z  are  in  retail  business,  following  information  are  obtained  from  their  records  for  the  year  ended 31st March, 2016:Goods received from suppliers(subject to trade discount and taxes) `15,75,500Trade discount 3% and sales tax 11%Packaging and transportation charges`87,500Sales during the year` 22,45,500Sales price of closing inventories`2,35,000Find out the historical cost of inventories using adjusted selling price method.

From the following information, calculate the historical cost of inventories using adjusted selling price method:`Sales during the year2,00,000Cost of purchases2,00,000Opening inventoryNilClosing inventory at selling price50,000

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