Question

Ram Das of Hyderabad consigned goods costing rupees 72,000. to Prakash of Cochin at a pro forma invoice price which is cost plus a profit of 1/6th on invoice price the consignor paid rupees 1800. as insurance and other charges Prakash received the goods and paid rupees 3000 for freight and other charges he was allowed 3% commission on gross sales .3/4 th of the goods were sold at 33.33% profit on cost half of which were credit sales half of the balance was stolen .but the stock being insured a claim was lodge for rupees 8000 and was settled for rupees 7000 balance of stock was valued at pro forma invoice price

Answer 1

Answer:

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Explanation:

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