Question

Cl. Stock
Krishna Lid, has three departments, A, B and C. From the particulars given below
compute
(8) The values of Stock as on 31st December, 1996.
(b) The Departmental trading results.
4
B
C
RE
Rs.
Rs.
(i) Stock as on 1st Jan. '96
24,000
36.000
12,000
Purchases
1.46,000 1.24.000
48,000
Actual sales
1.72.500
1.59.400
74,600
G.P. on normal selling prices
20%
25%
33
%
(ii) During the year certain items were sold at discount and these discounts were
reflected in the values of Sales shown above. The items sold at discounts were:
Department
A
B
с
Rs.
Sales at normal price
Sales at actual price
10,000
7.500
Rs.
3,000
2,400
Rs.
1.000
600​

Answer 1

Answer:

Working note 1: computation of value of cost of goods sold

A. B. C

sales after discount. 1,72,500. 1,59,400. 74,600

+ discount. 2,500. 600. 400

sales before discount

1,75,000. 1,60,000 75,000

- G.P on sales 35,000. 40,000 25,000

(20%;25%;331/3%)

cost of goods sold. 1,40,000. 1,20,000.50,000

working notes2:computation of closing stock

A. B. C

opening stock. 24,000. 36,000. 12,000

+ purchase. 1,46,000. 1,24,000. 48,000

1,70,000. 1,60,000. 60,000

- cost of foods sold 1,40,000. 1,20,000. 50,000

closing stock. 30,000. 40,000. 10,000

Explanation:

Solution:

Departmental trading a/c for the year ending 31. 12.96

opening stock 24,000. 36,000. 12,000

purchases. 1,46,000 1,24,000. 48,000

gross profit. 32,500. 39,400. 24,600

2,02,500.1,99,400 84,600

sales. 1,72,500. 1,59,400. 74,600

closing stock. 30,000. 40,000. 10,000

2,02,500. 1,99,400. 84,600