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Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more than opening inventory. Then find the value of closing inventory.
  • a)
    Rs.31,000
  • b)
    Rs.28,000
  • c)
    Rs.27,000
  • d)
    Rs.34,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more tha...
Given:
Average inventory = Rs. 28,000
Closing inventory = Opening inventory + Rs. 6,000

To find:
Value of closing inventory

Solution:
Let the opening inventory be x.
Then, the closing inventory will be x + Rs. 6,000.

The formula for calculating average inventory is:
Average inventory = (Opening inventory + Closing inventory)/2

Substituting the values, we get:
Rs. 28,000 = (x + (x + Rs. 6,000))/2
Rs. 56,000 = 2x + Rs. 6,000
2x = Rs. 50,000
x = Rs. 25,000

Therefore, the opening inventory is Rs. 25,000.
And the closing inventory is:
x + Rs. 6,000 = Rs. 25,000 + Rs. 6,000 = Rs. 31,000

Hence, the value of closing inventory is Rs. 31,000.

Answer: Option A. Rs. 31,000
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Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more than opening inventory. Thenfind the valueof closing inventory.a)Rs.31,000b)Rs.28,000c)Rs.27,000d)Rs.34,000Correct answer is option 'A'. Can you explain this answer?
Question Description
Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more than opening inventory. Thenfind the valueof closing inventory.a)Rs.31,000b)Rs.28,000c)Rs.27,000d)Rs.34,000Correct answer is option 'A'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more than opening inventory. Thenfind the valueof closing inventory.a)Rs.31,000b)Rs.28,000c)Rs.27,000d)Rs.34,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Average inventory is Rs.28,000. Closing inventory is Rs.6,000 more than opening inventory. Thenfind the valueof closing inventory.a)Rs.31,000b)Rs.28,000c)Rs.27,000d)Rs.34,000Correct answer is option 'A'. Can you explain this answer?.
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