Question

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calculate the amount of medicine consumed during the year ended 31st March 2019

• opening stock of medicine = 50000
• closing stock of medicine = 45000 more than opening stock
• amount paid for the medicine during the year = 200000
• opening creditors = 20000
• closing creditors = 50% of opening creditors

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Answer 1

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Answer 2

Given :

• Opening stock of medicine = 50,000

• Closing stock of medicine = 45,000 more than opening stock

• Amount paid for the medicine during the year = 2,00,000

• Opening creditors = 20,000

• Closing creditors = 50% of Opening creditors

Solution :

★ According to the Question :

• Opening stock of medicine = 50,000

• Closing stock of medicine = 45,000 more than opening stock

50,000 + 45,000 = 95,000

• Closing stock of medicine = 95,000

• Opening creditors = 20,000

• Closing creditors = 50% of Opening creditors

20,000 × 50/100 = 10,000

• Closing creditors = 10,000

• The amount of medicine consumed during the year = ??

Amount paid for the medicine during the year 2,00,000

Add : Opening stock of medicine 50,000

2,50,000

Less : Closing stock of medicine 95,000

1,55,000

Less : Opening creditors 20,000

1,35,000

Add : Closing creditors 10,000

The amount of medicine consumed during the year 1,45,000