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Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than opening stock. The value of closing Inventory = _________.
  • a)
    Rs. 12,000
  • b)
    Rs. 24,000
  • c)
    Rs. 10,500
  • d)
    Rs. 13,500
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than o...
Given:
Average Inventory = Rs. 12,000
Closing stock is Rs. 3,000 more than opening stock

To find: The value of closing Inventory

Solution:

Let the opening stock be x.
Then, the closing stock will be x+3,000.

Average inventory = (Opening stock + Closing stock) / 2

12,000 = (x + (x+3,000)) / 2

24,000 = 2x + 3,000

2x = 21,000

x = 10,500

Therefore,
Opening stock = Rs. 10,500
Closing stock = Rs. 10,500 + Rs. 3,000 = Rs. 13,500

The value of closing inventory = Rs. 13,500

Hence, option D is the correct answer.
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Community Answer
Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than o...
Let closing inventory =x
then opening inventory = x-3000
Average inventory = 12000
(x+(x-3000))/2=12000
x+(x-3000)=24000
2x-3000=24000
2x=27000
x=13500
then we can say closing inventory =13500
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Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than opening stock. The value of closing Inventory = _________.a)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer?
Question Description
Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than opening stock. The value of closing Inventory = _________.a)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct 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 Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than opening stock. The value of closing Inventory = _________.a)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct 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 Average Inventory = Rs. 12,000. Closing stock is Rs. 3,000 more than opening stock. The value of closing Inventory = _________.a)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer?.
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