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
(5/8) × 480 + (3/9) × 450 = (5/2) × ?
22 * 6 + 45% of 90 + 65% of 180 = ?
2222 ÷ 22 + 992 ÷ 16 + 650 ÷ 25 = ?
(8 x 9) ÷ 5 + ?2 = 23.4
What will come in the place of question mark (?) in the given expression?
1020 ÷ 51 × 5 + 540 of 25% - 10 = ?2
(25 × 12 + 30 × 8 – 22 × 10) = ?
44% of 1900 + 25% of ? = 9000
115% of 40 + 3 × 4 = ? × 11 – 8
√(?) ² = √7396 - √6889
