Question

Stock U
L.A,IPCEI
company were lost. Goods worth 82,720 could, however, be saved from the accidents
The following particulars are supplied to you:
1,20,000
5,227,00
Stock on 1.1.19
Purchases to the date of fire
Carriage paid on purchases
Sales to the date of fire
Commission paid to the purchase manager at 2% on purchases
Average gross profit on sales 331/3%.
subject to average clause.
3. The godown of Y Ltd. caught fire on March 31, 2019. As a result, stock of goods in the godown of the
The company had a fire policy of 3,20,000 covering its stock of goods in the godown. The policy is
[C.U., B.Com. (Gen.) '12 - Adapted]
You are to ascertain : (a) Total loss of stock; (b) The amount of insurance claim to be made.​

Answer 1

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