Question

From the following particulars ascertain the value of Inventories as on 31st March, 2020:
3 ₹
Inventory as on 1.4.2019
Purchases
Manufacturing Expenses
Selling Expenses
Administrative Expenses
Financial Charges
Sales
1,42,500
7,62,500
1,50,000
60,500
30,000
21,500
12,45,000
At the time of valuing inventory as on 31st March, 2019, a sum of 17,500 was written off on a particular
item, which was originally purchased for 50,000 and was sold during the year for 45,000. Barring the
transaction relating to this item, the gross profit earned during the year was 20 percent on sales.

Answer 1

Answer:

ita lamba kaise likh lete ho tum

Answer 2

Answer:

s-1) Net sales=total sales (-) sale of that particular good

->1250000-50000=1200000

s-2) COGS

-> gross profit=1200000/*20->240000

COGS=net sales - gross profit

1200000-240000 ->960000

s-3) closing stock= net sales - opening stock - net purchase - manufacturing expenses

-> 1200000-142500-762500-150000

->45000.