Question

X sent goods to Y costing * 30,000 at cost plus 25%. These
goods are to be sold at 10% above invoice price. Y sold a
part of the goods at * 33,000. What will be the value of
closing stock?
(a) 8,000 (b) * 6,000 (c)* 7,000 (d) 5,000​

Answer 1

Answer:Correct answer is option 'B'

Explanation:Value of goods sold by Y - 30000 (33000/110%) Value of such goods for X - 24000 (30000 - 30000*1/5) Therefore, value of closing stock for x in respect of stock lying with Y is Rs. 6,000 (30,000 - 24,000)