Question
A retailer holds seasonal fashion inventory purchased at
₹20 lakh. At year-end, expected selling price is ₹25 lakh, but estimated selling costs are ₹7 lakh because of heavy discounting and promotional spend required. The inventory has not yet been marked down. What is the correct carrying amount?Solution
Inventories are measured at the lower of cost and NRV. Here cost = ₹20 lakh, NRV = 25 – 7 = ₹18 lakh. Carrying value = ₹18 lakh since NRV is lower.
Jason alone can complete a piece of work in 20 days. In how many days can Jamal alone do the same work, if both of them together can do the same work in...
- Which type of memory requires frequent refreshing to retain data?
A shopkeeper purchased two packets of chips, A and B, for a combined cost of Rs. 2500. Packet A was sold with a 30% profit, while...
Let A = {10, 20, 30} and B = {5, 10, 15}. Which of the following relations from A to B is onto?
A principal of ₹5000 is invested at a simple interest rate of 8% per annum. What will be the interest earned after 3 years?
What is the function of the "IF" function in Excel?
If sinθ + cosθ = 2a and tanθ + cotθ = b, then find a in terms of b.
A milkman has a 60-liter mixture of milk and water in the ratio of 7:5. He sells 'x' liters of the mixture and replaces it with the same amount of a new...
A sphere is inscribed in a cylinder. The radius of the cylinder is 7 cm. What is the volume of the sphere?
A man spends 30% of his salary on rent, 25% on groceries, and the remaining on savings. If he saves ₹18,000, what is his total salary?
