Question

calculating value of stock lying with Chandru.​

Answer 1

Answer:

Explanation:

Goods sent by consigner [Chidambaram]

• 100 @ 800/- = 80,000

 Consigner [Chidambaram] Expense = 1,900

1. Freight = 1,000
2. Insurance = 400
3. Carriage = 500

Goods sold by consignee

• 75 @ 800/ = 60,000

Consignee expense

1. Custom duty = 2,000 (non recurring)
2. Dock charges = 500 (non recurring)
3. Rent = 500 (recurring)
4. Salary = 500 (recurring)

Value of unsold goods

• 20 @ 800/ = 20,000

Consignment inventory

• 25 × 800 = 20,000

• (+) consigner expense = ²⁵/₁₀₀ × 1900 = 475

• (+) consignee expense = ²⁵/₁₀₀ ×  2500 = 625

Value of stock lying with chandru = 21,100