Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option 'D'. Can you explain this answer?

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Four Washing Machines are in stock with a dealer

Find out the value of stock for balance sheet as per AS-2

a)
Rs. 88,500
b)
Rs. 87,500
c)
Rs. 92,000
d)
Rs. 84,000

Correct answer is option 'D'. Can you explain this answer?

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Four Washing Machines are in stock with a dealerFind out the value of ...

According to As 2 , stock will be recorded least offer cost and realisable value then
"Model A" stock =13500
" Model B" stock =20000
" Model C" stock = 22500
" Model D" stock = 30000
Add all model amount =84000

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Four Washing Machines are in stock with a dealerFind out the value of ...

To find the value of the stock for the balance sheet as per Accounting Standard-2 (AS-2), we need to value each item of inventory at the lower of cost and net realizable value (NRV). Here's how to apply this:

Model A: Cost is 15,000 and NRV is 13,500. We take the lower value, 13,500.
Model B: Cost is 20,000 and NRV is 22,000. We take the lower value, 20,000.
Model C: Cost is 22,500 and NRV is 20,500. We take the lower value, 20,500.
Model D: Cost is 30,000 and NRV is 32,500. We take the lower value, 30,000.

Now, to find the total value of stock for the balance sheet:

Total = 13,500 (Model A) + 20,000 (Model B) + 20,500 (Model C) + 30,000 (Model D)
Total = 84,000

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Four Washing Machines are in stock with a dealerFind out the value of stock for balance sheet as per AS-2a)Rs. 88,500b)Rs. 87,500c)Rs. 92,000d)Rs. 84,000Correct answer is option 'D'. Can you explain this answer?

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