Arun consigned 2000 tonnes of coal @ Rs.50 per tonne to Balu of Delhi. He paid rs.20,000 as freight. Due to normal waste only 1950 tonnes were received by Balu. He also paid Rs. 5,000 as unloading and cartage charges. The goods unsold amounts to 650 tonnes. You are required to calculate the values of closing stock.
Answers
Answer:
The correct answer value of closing stock $ 35000
Explanation:
Step 1: Costs for products and services: In other words, the basic price that your vendor finally charges. For instance, the cost of 5,000 bolts or platform subscription fees. People outside of your buying department may be most familiar with this. Purchasing Price = Cost Price + Margin is the equation for the purchase price. We can also express the total purchase price for all units sold over a period using the formula (Purchase Price*Units) = (Cost Price*Units) + (Margin*Units).
Step 2: The purchase price, import and tax-related charges, transportation costs, insurance during transit, handling costs, and other expenses directly associated to the acquisition of completed goods, raw materials, and services are all included in the cost of acquisition. Cost is often the outlay made for producing a good or service that a business sells. A customer's willingness to pay for a good or service is reflected in the price. The price of a product and the profit made from its sale are directly correlated with the cost of manufacturing that thing.
Step 3: Value of closing stock = (purchas cost of 1950 tomes + unloading costs) /1950 * 650
= ((2000*50)+5000)1950 * 650
= 53.85*650
= 35000
So the correct answer value of closing stock $ 35000
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