Question

M/s X, Y and Z are in retail business, following information are obtained from their records for the
appropriate to the circ
ILLUSTRATION 5
year
ended 31st March, 2016:
₹
15,75,500
₹
Goods received from suppliers
(subject to trade discount and taxes)
Trade discount 3% and sales tax 11%
Packaging and transportation charges
Sales during the year
Sales price of closing inventories
Hy My
87,500
22,45,500
2,35,000
Find out the historical cost of inventories using adjusted selling price method.
SOLUTION​

Answer 1

Answer:

45000.

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Answer 2

168988 is the correct answer