The opening stock of raw material is 20,000 units. 80,000 units have been purchased during the year. If the closing stock is 30,000 units, what is stock of material consumed during the year?
60,000 units
150,000 units
70,000 units
40,000 units
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Stock of material consumed = Opening stock of raw material + purchased during the year - closing stock of raw material
Hence, Stock of material consumed = 20,000+80,000-30,000= 70,000 units
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