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Consider the following information pertaining to G & Sons as on March 31, 2005:
 
As per physical inventory taken on March 31, 2005 the closing inventory was Rs.20,90,000.
Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee. The estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year, respectively are 
  • a)
    Rs.2,65,000; Rs.37,50,000
  • b)
     Rs.2,10,000; Rs.39,10,000
  • c)
    Rs.1,75,000; Rs.50,00,000
  • d)
     Rs.1,60,000; Rs.37,50,000.
Correct answer is option 'D'. Can you explain this answer?
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Consider the following information pertaining to G Sons as on March 31, 2005:As per physical inventory taken on March 31, 2005 the closing inventory was Rs.20,90,000.Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee. The estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year, respectively area)Rs.2,65,000; Rs.37,50,000b)Rs.2,10,000; Rs.39,10,000c)Rs.1,75,000; Rs.50,00,000d)Rs.1,60,000; Rs.37,50,000.Correct answer is option 'D'. Can you explain this answer?
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Consider the following information pertaining to G Sons as on March 31, 2005:As per physical inventory taken on March 31, 2005 the closing inventory was Rs.20,90,000.Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee. The estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year, respectively area)Rs.2,65,000; Rs.37,50,000b)Rs.2,10,000; Rs.39,10,000c)Rs.1,75,000; Rs.50,00,000d)Rs.1,60,000; Rs.37,50,000.Correct answer is option 'D'. Can you explain this answer? 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 Consider the following information pertaining to G Sons as on March 31, 2005:As per physical inventory taken on March 31, 2005 the closing inventory was Rs.20,90,000.Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee. The estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year, respectively area)Rs.2,65,000; Rs.37,50,000b)Rs.2,10,000; Rs.39,10,000c)Rs.1,75,000; Rs.50,00,000d)Rs.1,60,000; Rs.37,50,000.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following information pertaining to G Sons as on March 31, 2005:As per physical inventory taken on March 31, 2005 the closing inventory was Rs.20,90,000.Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee. The estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year, respectively area)Rs.2,65,000; Rs.37,50,000b)Rs.2,10,000; Rs.39,10,000c)Rs.1,75,000; Rs.50,00,000d)Rs.1,60,000; Rs.37,50,000.Correct answer is option 'D'. Can you explain this answer?.
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