Question

On 01.07.18, a fire broke out in the godown of a company destroying most of its stock
From the records saved, following information were obtained

Stock at cost on 01.01.17. 4,41,000
Stock at cost on 31.12.17 4,77,600
Purchases less returns for the year ended 31.12.17. 23,88,000
Sales less returns for the year ended 31.12.17. 29,22,000
Purchases less returns from 01.01.18 to 01.07.18 972000
Sales less returns from 01.01.18 to 01.07.18 13,87,200
While valuing stock on 31.12.17. 13,800 had been written off certain stock which was
poor selling line, having cost 41,400. A portion of these goods was sold in March, 2018 at
a loss of 1,500 on the original cost of 20,700. The remainder of the stock was estimated
to be worth the original cost Subject to above exception, gross profit remained at a uni
form rate over throughout Salvage stock was valued at 34,800.
Calculate the amount of insurance claim to be lodged

Answer 1

Answer:

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