26 March 2011
Can any1 plz solve this with the steps: The book of T ltd. revealed the following information:- opening inventory 6,00,000 purchase during 2003-2004 34,00,000 sales during 2003-2004 48,00,000 on March 31 2004 the value of inventory as per physical stock taking was 3,25,000. the companies gross profit on sales has remained constant at 25%. The management of the company suspects that some inventory might have been pilfered by a new employee. what is the estimated cost of missing inventory?
CAclubindia
