Question

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19. A fire on Oct 1, 1964 destroyed the stock of a firm. The business records were saved
and from them the following particulars were ascertained:-
Rs.
Stock at cost on 30.4.1963
44,300
Stock at cost on 30.4.1964
37,550
Purchases for the year to April 30, 1964
1,03,850
Purchases from May 1, 1964 to Sept. 30, 1964
37,350
Sales for the year to April 30, 1964
1,52,500
Sales from May 1 1964 to Sept. 30, 1964
50,000
In valuing the stock on 30.4.1964, Rs. 800 had been written off a particular line of
goods which had originally cost Rs. 1,800. They were sold in June 1964 for
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Rs. 1,750. Except as regards this transaction the ratio of gross profit has remained
unchanged throughout. The value of stock salvaged was Rs. 5,100.
Calculate the amount of claim.
[Madras, B.Com., April 1976)
(Ans: Claim
Rs. 34,060
25.1. Gross profit ratio - 28%​

Answer 1

Explanation:

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