Question

gee ltd. follows perpetual inventory system. on march 31" 2014, the company took physical inventory verification and found the value of inventory as per records different from the value as per the physical inventory due to: goods purchased for 10,000 were received and included in the physical inventory but no entry were made in the books. goods costing 30,000 were sold and entered in the books but the goods are yet to be delivered. goods worth 5,000 are returned to the supplier but is omitted to be recorded. if the inventory is valued in the books at 1,50,000, the value of the physical inventory is ?

Answer 1

Answer:

Describe contribution of Germany ,USA, and Sweden in games and sports

gee ltd. follows perpetual inventory system. on march 31" 2014, the company took physical inventory verification and found the value of inventory as per records different from the value as per the physical inventory due to: goods purchased for 10,000 were received and included in the physical inventory but no entry were made in the books. goods costing 30,000 were sold and entered in the books but the goods are yet to be delivered. goods worth 5,000 are returned to the supplier but is omitted to be recorded. if the inventory is valued in the books at 1,50,000, the value of the physical inventory is ?