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If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will be
- 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?
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Most Upvoted Answer
If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more...
Given:
Average inventory = Rs. 12,000
Closing inventory is Rs. 3,000 more than opening inventory
To find:
Value of closing inventory
Solution:
Let's assume the opening inventory as x.
According to the given information,
Closing inventory = Opening inventory + Rs. 3,000
Closing inventory = x + Rs. 3,000
We know that,
Average inventory = (Opening inventory + Closing inventory)/2
Substituting the values of closing inventory and average inventory in the above formula, we get
Rs. 12,000 = (x + x + Rs. 3,000)/2
Rs. 24,000 = 2x + Rs. 3,000
Rs. 21,000 = 2x
x = Rs. 10,500
Now, we can find the value of closing inventory using the formula we derived earlier
Closing inventory = x + Rs. 3,000
Closing inventory = Rs. 10,500 + Rs. 3,000
Closing inventory = Rs. 13,500
Therefore, the value of closing inventory is Rs. 13,500. Hence, the correct answer is option (D).
Average inventory = Rs. 12,000
Closing inventory is Rs. 3,000 more than opening inventory
To find:
Value of closing inventory
Solution:
Let's assume the opening inventory as x.
According to the given information,
Closing inventory = Opening inventory + Rs. 3,000
Closing inventory = x + Rs. 3,000
We know that,
Average inventory = (Opening inventory + Closing inventory)/2
Substituting the values of closing inventory and average inventory in the above formula, we get
Rs. 12,000 = (x + x + Rs. 3,000)/2
Rs. 24,000 = 2x + Rs. 3,000
Rs. 21,000 = 2x
x = Rs. 10,500
Now, we can find the value of closing inventory using the formula we derived earlier
Closing inventory = x + Rs. 3,000
Closing inventory = Rs. 10,500 + Rs. 3,000
Closing inventory = Rs. 13,500
Therefore, the value of closing inventory is Rs. 13,500. Hence, the correct answer is option (D).
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Community Answer
If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more...
Let opening inventory is x then closing x+3000 12000=(opening +closing) /2 12000=(x+x+3000)/2 24000-3000/2=x X =10500 opening inventory Then closing x+3000 10500+3000
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If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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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If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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 If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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 If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer?.
If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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 If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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 If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)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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If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer?, a detailed solution for If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of If Average inventory = Rs. 12,000. Closing inventory is Rs. 3,000 more than opening inventory then the value of closing inventory will bea)Rs. 12,000b)Rs. 24,000c)Rs. 10,500d)Rs. 13,500Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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