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
Explanation: 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.
More Accounts Questions
150% of 850 ÷ 25 – 25 = ?% of (39312 ÷ 1512)
2850 ÷ 2.5 - ? × 42 = 300
[(√576 × √144) ÷ √1296]2 = ? ÷ 3
What will come in the place of question mark (?) in the given expression?
?% of 192 = 242 – 48 × 11
Simplify the following expression and find the final value:
(18 ÷ 6 of 2 + 7 of 5) ÷ 5
5.5 × 3.2 × 2.3 = ?
2850 ÷ 2.5 - ? × 42 = 300
What will come in place of the question mark (?) in the following questions?
180 % of 45 + √144 × 8 = ?2 + 80 % of 70
(7/4×18/21)+ (51/7× 28/17) + (25/2 × 48/10) =?
