Question

Sudhir of Simla consigned 100kg of vegetables to D of Delhi for Rs. 1500. He spent Rs. 75 on transportation. 10kg were found unfit for resale due to weather conditions and of the remaining 85 kg were sold for Rs. 1675. Find the value of closing stock.
Answer- 87.50


Please explain this sum...

Answer 1

Answer:

87.5

Explanation:

100 KG OF GOODS FOR RS 15000

RS 75 EXPENSE SO, 1500+75=1575

100-10(ASSUME NORMAL LOSS)= 90 KG

1575/90=17.5 COST

CLOSING STOCK

100-10-85= 5

VALUATION OF CLOSING STOCK

17.5 * 5= 87.5 ANS.

.10 KG UNFIT FOR RESALE IT HAS  ASSUMED IT  AS NORMAL LOSS

Answer 2

Answer:

The value of closing stock is 87.5.

Explanation:

Given: Sudhir of Simla consigned 100kg of vegetables to D of Delhi for Rs. 1500. He spent Rs. 75 on transportation. 10kg were found unfit for resale due to weather conditions and the remaining 85 kg were sold for Rs. 1675

To find: Find the value of the closing stock.

Calculation:

100kg of goods = 15000

Expense occurred of rs75 =

1500+75=1575

(Assume normal loss)100Kg-10Kg

= 90 KG

Now,

1575/90=17.5 is the cost

Closing stock (calculation)

$100-10-85= 5$

Valuation of closing stock,

$17.5 * 5= 87.5$

Therefore, the answer is 87.5.

Note: (10Kg unfit for reselling as it has been assumed that it is a normal loss)

Normal loss:

Normal loss is defined as a loss that occurs under normal conditions due to the intrinsic character of the raw materials and manufacturing process.

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