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The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:
Cost of goods sold Rs. 10, 000
Cost of goods purchased Rs. 10,000
Purchase returns Rs. 1,000
Cost of goods purchased Rs. 10,000
Purchase returns Rs. 1,000
The value of inventory as per books on 31st March, 2012 will be
- a)Rs. 1,19,000
- b)Rs. 1,11,000
- c)Rs. 1,21,000
- d)Rs. 1,20,000
Correct answer is option 'C'. Can you explain this answer?
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The cost of inve nt or y as per physical verification of Bharat Ltd. o...
Given information:
- Cost of inventory as per physical verification on 10th April, 2012 = Rs. 1,20,000
- Cost of goods sold from 1st April to 10th April, 2012 = Rs. 10,000
- Cost of goods purchased from 1st April to 10th April, 2012 = Rs. 10,000
- Purchase returns from 1st April to 10th April, 2012 = Rs. 1,000
To find: Value of inventory as per books on 31st March, 2012
Calculation:
- Cost of goods available for sale from 1st April to 10th April, 2012 = Cost of opening inventory + Cost of goods purchased - Purchase returns
= X + Rs. 10,000 - Rs. 1,000
= X + Rs. 9,000
- Cost of goods sold + Value of closing inventory on 10th April, 2012 = Cost of goods available for sale
Rs. 10,000 + Y = X + Rs. 9,000
Y = X - Rs. 1,000
- Value of closing inventory on 10th April, 2012 = Rs. 1,20,000
- Value of opening inventory on 1st April, 2012 = Value of closing inventory on 10th April, 2012 - Cost of goods purchased + Purchase returns - Cost of goods sold
= Rs. 1,20,000 - Rs. 10,000 + Rs. 1,000 - Rs. 10,000
= Rs. 1,01,000
- Value of inventory as per books on 31st March, 2012 = Value of opening inventory on 1st April, 2012 - Cost of goods purchased + Purchase returns
= Rs. 1,01,000 - Rs. 10,000 + Rs. 1,000
= Rs. 1,21,000
Therefore, the correct answer is option C) Rs. 1,21,000.
- Cost of inventory as per physical verification on 10th April, 2012 = Rs. 1,20,000
- Cost of goods sold from 1st April to 10th April, 2012 = Rs. 10,000
- Cost of goods purchased from 1st April to 10th April, 2012 = Rs. 10,000
- Purchase returns from 1st April to 10th April, 2012 = Rs. 1,000
To find: Value of inventory as per books on 31st March, 2012
Calculation:
- Cost of goods available for sale from 1st April to 10th April, 2012 = Cost of opening inventory + Cost of goods purchased - Purchase returns
= X + Rs. 10,000 - Rs. 1,000
= X + Rs. 9,000
- Cost of goods sold + Value of closing inventory on 10th April, 2012 = Cost of goods available for sale
Rs. 10,000 + Y = X + Rs. 9,000
Y = X - Rs. 1,000
- Value of closing inventory on 10th April, 2012 = Rs. 1,20,000
- Value of opening inventory on 1st April, 2012 = Value of closing inventory on 10th April, 2012 - Cost of goods purchased + Purchase returns - Cost of goods sold
= Rs. 1,20,000 - Rs. 10,000 + Rs. 1,000 - Rs. 10,000
= Rs. 1,01,000
- Value of inventory as per books on 31st March, 2012 = Value of opening inventory on 1st April, 2012 - Cost of goods purchased + Purchase returns
= Rs. 1,01,000 - Rs. 10,000 + Rs. 1,000
= Rs. 1,21,000
Therefore, the correct answer is option C) Rs. 1,21,000.
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The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. Can you explain this answer?
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The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. 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 The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. 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 The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. Can you explain this answer?.
The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. 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 The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. 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 The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. Can you explain this answer?.
Solutions for The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA CPT.
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ample number of questions to practice The cost of inve nt or y as per physical verification of Bharat Ltd. on 10th April, 2012 was Rs. 1,20,000. The following transactions took place between 1st April, 2012 to 10th April, 2012:Cost of goods sold Rs. 10, 000Cost of goods purchased Rs. 10,000Purchase returns Rs. 1,000The value of inventory as per books on 31st March, 2012 will bea)Rs. 1,19,000b)Rs. 1,11,000c)Rs. 1,21,000d)Rs. 1,20,000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA CPT tests.
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