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Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ?
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Average inventory is RS 12000, closing inventory is Rs 3000 more than ...
Calculation of Closing Inventory
To calculate the value of closing inventory, we need to know the opening inventory and the amount of inventory purchased or produced during the period.
Given Information
- Average inventory = Rs 12000
- Closing inventory = opening inventory + Rs 3000
Calculation of Opening Inventory
We can use the formula for average inventory to calculate the opening inventory.
Average inventory = (Opening inventory + Closing inventory) / 2
Rs 12000 = (Opening inventory + (Opening inventory + Rs 3000)) / 2
Simplifying the equation, we get:
2 * Rs 12000 = 2 * Opening inventory + Rs 3000
Opening inventory = (2 * Rs 12000 - Rs 3000) / 2
Opening inventory = Rs 13500
Calculation of Closing Inventory
We already know that the closing inventory is Rs 3000 more than the opening inventory.
Closing inventory = Opening inventory + Rs 3000
Closing inventory = Rs 13500 + Rs 3000
Closing inventory = Rs 16500
Therefore, the value of the closing inventory is Rs 16500.
To calculate the value of closing inventory, we need to know the opening inventory and the amount of inventory purchased or produced during the period.
Given Information
- Average inventory = Rs 12000
- Closing inventory = opening inventory + Rs 3000
Calculation of Opening Inventory
We can use the formula for average inventory to calculate the opening inventory.
Average inventory = (Opening inventory + Closing inventory) / 2
Rs 12000 = (Opening inventory + (Opening inventory + Rs 3000)) / 2
Simplifying the equation, we get:
2 * Rs 12000 = 2 * Opening inventory + Rs 3000
Opening inventory = (2 * Rs 12000 - Rs 3000) / 2
Opening inventory = Rs 13500
Calculation of Closing Inventory
We already know that the closing inventory is Rs 3000 more than the opening inventory.
Closing inventory = Opening inventory + Rs 3000
Closing inventory = Rs 13500 + Rs 3000
Closing inventory = Rs 16500
Therefore, the value of the closing inventory is Rs 16500.
Community Answer
Average inventory is RS 12000, closing inventory is Rs 3000 more than ...
Closing inventory = 13500
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Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ?
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Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ?.
Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Average inventory is RS 12000, closing inventory is Rs 3000 more than opening inventory What is the value of closing inventory ?.
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