Question

Find out loss of stock, if closing stock on the date of fire RS 2,45,000; gross profit RS 1,25,000; sales RS 5,00,000; salvaged stock RS 25,000. *

a) 1,20,000
b) 1,00,000
c) 2,20,000
d) 95,000

Answer 1

Explanation:

closing stock on the date of fire Rs.

2,45,000

Less : salvaged stock Rs 25,000

loss of stock Rs. 2,20,000

Therefore, option c) 2,20,000

loss of stock = Rs. 2,20,000