undervaluation of closing stock by 10% closing stock was rupees 30000 find out the value of closing stock
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Answered by
2
Answer:
closing stock = 30000
10% valuation by closing stock
closing stock = 30000×10÷100
= 3000
the closing stock = 3000
Answered by
9
Explanation:
stock is recorded at less of price
Cosider,
Actual cost is 100
It is undervalued by 10%
cost(Actual value) - undervaluation = Given value
100 - 10 = 90
Given value (90) which is 30,000
30,000 × 100/90
33,333
The value of closing stock = Rs. 33,333
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