Question

If the Invoice price of closing stock is Rs. 3,60,000 what amount should be transferred to Stock Reserve given loading is 20% of cost price

Answer 1

Answer:

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Answer 2

GIVEN :  Closing Stock = 3,60,000 ; Loading is 20% on cost price

TO FIND :  What amount should be transferred to stock reserve

SOLUTION :

The solution to the  above problem can be easily obtained using the equation for percentage.

The solution can be as follows

Equation to find the total = $\frac{Total price of the stock + loading }{Total Percentage }$

This given with us = $\frac{3,60,000 * 20}{120}$

                             = 60,000

So, the loading amount is 60,000.

So, the amount transferred to stock reserve is 60,000.