Question

Q.1. ABC ltd ordered 15,000 kg of raw material at Rs. 100 per unit. The purchase price includes GST Rs. 18 per kg in respect of which full input tax credit (ITC) is admissible, Freight incurred amounted to Rs.70,000. Normal transit loss is 5%. The enterprise actually received 14,000 kg and consumed 10,000 kg. Calculate the cost of inventory and show how material cost will be allocated.​

Answer 1

Answer:

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