Question

From the following
calculate Value of
Closing Stock of
Completed Cycles:
Cost of Production
of 1000 cycles is Rs.
11,00,000, Cost of
980 cycles sold is
Rs. 10,74,0000 and
Closing Stock of
Completed cycles is
60.​

Answer 1

Answer:

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Answer 2

Closing stock of completed 20 cycles will be ₹22000.

Explanation:

Given: Cost of Production of 1000 cycles is Rs.11,00,000,

           Cost of 980 cycles sold is Rs. 10,74,0000 and

Find:   Closing Stock of Complete 20 cycles.

Solution:

• Closing stock is the stock remained unsold after the complete of one financial year, that's why it is necessary to show the closing stock at cost.
• Cost of Production of 1000 cycles is Rs. 11,00,000
• Cost of 980 cycles sold is Rs. 10,74,0000

• cost of 20 cycles remained unsold =

                      11,00,000/1000*20 = ₹22000

• closing stock at the end of the year is 20 cycles for ₹22000.