Question

Physical verification of stock in a business was done on 23rd June, 2016. The value of the stock was
48,00,000. The following transactions took place between 23rd June to 30th June, 2016:
(i) Out of the goods sent on consignment, goods at cost worth * 2,40,000 were unsold.
() Purchases of 4,00,000 were made out of which goods worth 1,60,000 were delivered on 5th
July, 2016
(i) Sales were ? 13,60,000, which include goods worth 3,20,000 sent on approval. Half of these
goods were returned before 30th June, 2016, but no information is available regarding the
remaining goods.
(iv) Goods are sold at cost plus 25%. However goods costing 2,40,000 had been sold for 1,20,000.
Determine the value of stock on 30th June, 2016.​

Answer 1

Answer:

it7ffttiug yeti 47t7574347 3646

Answer 2

Answer:

4464000

Explanation:

stock as on 23rd june                                            48,00,000

+ goods with consignee                                         2,40,000

+ purchases                                                             4,00,000

- sale

( normal goods- 9,20,000x 1/5= 184000)

                           9,20,000-184000)                       7,36,000

abnormal sales ( 4,00,000- 1,60,000)                   2,40,000

                                                                                4464000

wn)

SALES             1360000

- sale on app.  320000

- abnormal item. 120000

                         920000