Pls need help :)
ali (Student CA CPT ) (130 Points)
08 April 2014ali (Student CA CPT ) (130 Points)
08 April 2014
Jag Bhushan Sharma
(Faculty in a B-School)
(633 Points)
Replied 22 April 2014
Answer for the question is actually Rs.4500.
Stock Reserve : (250000 x 9/10) x 1/10 = 22500 x 25/125 = 4500
We have to make stock reserve equivalent to profit margin contained in closing stock. Profit margin is 1/4 on cost and 1/5 on invoice value.
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