Question
A company has the following inventory data for a
product: • Opening Stock: 500 units @ ₹50 • Purchases: 1,000 units @ ₹55 • Sales: 1,200 units Closing stock is valued using FIFO. What is the value of closing inventory?Solution
Using FIFO: • 1,200 units sold = 500 @ ₹50 + 700 @ ₹55 = ₹25,000 + ₹38,500 = ₹63,500 • Remaining 300 units = from last purchase @ ₹55 = ₹16,500 So Closing stock = 300 x ₹55 = ₹16,500.
What is the primary purpose of the Bank Clinic launched by AIBEA?
What was the theme of World Standards Day 2025?
Who became the first woman Director General of Police (DGP) in Maharashtra?
The Goods and Services Tax (GST) was implemented in which year?
Where was the first India-Nordic summit held?
The hardness of water is usually expressed in terms of what unit?
The Reserve Bank announced its second global hackathon -- 'HARBINGER 2023 - Innovation for Transformation' with the theme _________ .
What is the growth forecast for India by the IMF for the year 2026?
Which festival is celebrated by the Adi tribe of Arunachal Pradesh?
What does the word 'Udbhav' mean in the context of 'Project UDBHAV' launched by Defence Minister Rajnath Singh?
