Question

On 21st June 2020 the premises of X ltd. were destroyed by fire, but sufficient records were saved from which the following particulars were ascertained. Stock at cost on 1.1.2019 =75500 , Stock on 31.12.2019 = 79600, Purchases during the year 2019= 390000 , Sales during the year 2019= 485000, Purchases from 1.1.2020 to 21.6.2020= 162000, Sales from 1.1.2020 to 21.6.2020 =231200, calculate closing stock on the date of fire. *

Answer 1

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