Question

Calculate amount of medicines consumed during the year ended 31st March, 2018:
Opening Stock of Medicines – ₹ 1,00,000
Opening Creditors for Medicines – ₹ 90,000
Cash purchases of Medicines during the year – ₹ 3,00,000
Closing Stock of Medicines – 1,50,000
Closing Creditors for Medicines – 1,30,000

Answer 1

Explanation:

The medicines consumed during the year can be found by adding the cash and credit purchase. The opening balance has to be added and the closing balance of the stock has to be deducted to find the exact value consumed.