Question

Sales for the year ended 31st March, 2016 amounted to 10,00,000. Sales included goods sold to Mr. A
for 50,000 at a profit of 20% on cost. Such goods are still lying in the godown at the buyer's risk.
Therefore, such goods should be treated as part of
(a) Sales.
(b) Closing Inventory.
(c) Goods in transit.
(d) None of the above.
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Answer 1

Answer:

answer will be option (c) goods in transit

Explanation:

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