Cost of physical stock on 15.4.16 was 300000 .sales amounting rs 10000...
Calculation of Cost of Physical Stock on 15.4.16
To calculate the cost of physical stock on 15.4.16, we need to consider the purchases and sales made between 31.3.16 and 15.4.16.
Purchases made between 31.3.16 and 15.4.16
- Purchases worth Rs. 50,000 were made between 31.3.16 and 15.4.16.
Sales made between 31.3.16 and 15.4.16
- Sales worth Rs. 100,000 were made between 31.3.16 and 15.4.16.
Calculation of Cost of Physical Stock
- Cost of physical stock on 31.3.16 = Rs. 300,000
- Sales made between 31.3.16 and 15.4.16 = Rs. 100,000
- Purchases made between 31.3.16 and 15.4.16 = Rs. 50,000
- Closing stock on 15.4.16 = Opening stock on 31.3.16 + Purchases - Sales
- Closing stock on 15.4.16 = Rs. 300,000 + Rs. 50,000 - Rs. 100,000
- Closing stock on 15.4.16 = Rs. 250,000
Calculation of Profit on Sales Value of Inventories as on 31.3.16
To calculate the profit on sales value of inventories as on 31.3.16, we need to consider the sales made between 31.3.16 and 15.4.16 and the opening stock on 31.3.16.
Sales made between 31.3.16 and 15.4.16
- Sales worth Rs. 100,000 were made between 31.3.16 and 15.4.16.
Opening Stock on 31.3.16
- Opening stock on 31.3.16 = Rs. 300,000
Calculation of Profit on Sales Value of Inventories as on 31.3.16
- Profit on sales value = Profit percentage * Sales value
- Profit percentage = 20%
- Sales value = Opening stock + Sales made between 31.3.16 and 15.4.16
- Sales value = Rs. 300,000 + Rs. 100,000
- Sales value = Rs. 400,000
- Profit on sales value = 20% * Rs. 400,000
- Profit on sales value = Rs. 80,000
Conclusion
The cost of physical stock on 15.4.16 is Rs. 250,000. The profit on sales value of inventories as on 31.3.16 is Rs. 80,000.