Atul Motors had a closing stock of ₹50 lakh as per 31 December 2018. They bought inventory worth ₹1.5 crore in January. A contract was closed between ABC Inc and Atul Motors in February with respect to the supply of cars worth ₹1.75 crore by November to ABC Inc. Atul Motors increased its inventory by ₹2.5 crore in July. Atul Motors also landed another contract to sell cars to a taxi start-up, with a contract total of ₹2 crore by December. What is the closing stock as per 31 December 2019 (in lakhs)?
Answers
Answered by
5
Answer:
25 Lakh
Explanation:
50 Lakh + 1.5 crore=2 Crore
1.75 crore supply car= (2 crore - 1.75 Crore)=25 Lakh
Inventory increased by 2.5 crore in july
Total Inventory (25 Lakh + 2.5 crore)= 2.75 crore
New contract to sell cars by December = 2.5 crore
Closing Stock= 2.7 crore - 2.5 crore = 25 Lack
Answered by
2
Answer:
75 lakhs
Explanation:
opening balance 50 Lakh
inventory bought in January : 1.5 crore
Balance : 50 Lakh + 1.5 crore=2 Crore
contract with ABC Inc to supply cars : 1.75 crore
Balance : (2 crore - 1.75 Crore)=25 Lakh
Inventory increased by 2.5 crore in July
Balance : (25 Lakh + 2.5 crore)= 2.75 crore
New contract to sell cars by December for taxi = 2 crore
Balance : 2.75 crore - 2 crore = 75 Lakh
Thus closing balance is 75 Lakhs
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