Question

Mr. x consigned 5ooo boxes of goods to Mr. Y@ Rs.250 each. He paid Freight Rs.3,500 & insurance Rs.1,500. Y paid expenses of Rs.5,000. He sold 3/5 of the boxes @ Rs.300 each. The remaining boxes were taken by Y at cost price.The value of inventory taken by Y will be Rs. __​

Answer 1

Answer:

500000

Explanation:

Mr x paid freight+insurance=5000

Mr y also paid expenses =5000

Leave them aside as these doesn't count for inventory value.

Next it is said that y sold only 3/5 of the total 5000 boxes.

thus means 3/5 = 60%= 3000 boxes sold.

2000 boxes still remains. This is calculated on cost price that is 250/box. 2000x250. this comes to 500000