Question
S, an entity had 500 units of product X at 30 June 2015.
The product had been purchased at a cost of $18 per unit and normally sells for $24 per unit. Recently, product X started to deteriorate but can still be sold for $24 per unit, provided some rectification work is undertaken at a cost of $3 per unit. What is the value of closing inventory at 30 June 2015.Solution
As per AS – 2, the inventories are to valued at cost or NRV, whichever is lower. Here, cost = 18 and NRV = 24-3=21. So, lower among the two is cost, i.e. 18*500 units.
Five statements are given below labelled 1, 2, 3, 4 and 5. Among these, four statements are in a logical order and form a coherent paragraph/passage. F...
1. Animators across the world have been working against the odds and the same holds true for India.
2. They are underpaid, their work relegate...
1) How this little book of stories of Forest Families in the 1930s in British India landed up on my table, I have no idea.
2) As it came from the...
Sentences of a paragraph are given below in jumbled order. Arrange the sentences in the correct order to form a meaningful and coherent paragraph.
...P: About 30 new hydro projects are now under execution with an installed capacity of 5,600 MW. Q: However, with the rapid increase in demand for power, ...
In each of the following questions , five sentences are given in which only four sentences will make a coherent paragraph after rearrangement ....
In the following question, a paragraph is given from which five words have been edited out. These words are represented by alphabets, are given below t...
This year’s budget proved the phrase “expect the unexpected” from a personal tax perspective. There was much speculation until ...
Complete the following paragraph by filling in the gaps with the most appropriate word.
Many people assume that music is mediated solely in the...
Five statements are given below labelled 1), 2), 3), 4) and 5). Among these, four statements are in logical order and form a coherent paragraph/passage....