Question

Q4. Mr X provides you the following information:
1. Good sent by Mr X to his agent Mr Y-10,000 Units @ Rs 20 per unit
2. Mr X's Forwarding and Insurance Expenses-- Rs 50,000
3. Agent took delivery and brought the goods to his godown after incurring expenses @ Re 1 per unit
4. Goods sold by Agent-7,300 units @ Rs 30
5. Agent's Commission-5%
Required: Calculate the amount of Closing Stock in each of the following alternative cases:
Case (a) If no other information is given
Case (b) If owing to fall in market price, the value of normal stock is to be reduced by 10%
Case (c) If owing to depression in the market, a special trade discount of 10% is to be allowed to sell
normal stock.​

Answer 1

Answer:

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