Question

The annual accounts of a trading Company are to be made up to December 31 but it was not possible to carry out a stock-taking until January 5 at which date the stock was valued at cost at ₹68,567.
Following transactions took place between 1st and 5th January:
Goods receive₹4,600
Goods returned₹200
Sales₹10,500
Returned by customers₹625
The rate of gross profit is 25% of cost. prepare a statement to show the valuation of stock as at December 31.​

Answer 1

Answer:

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Explanation:

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