Valuation of inventories
Prajwal Pramod Shewatkar (CPT) (49 Points)
30 November 2014Prajwal Pramod Shewatkar (CPT) (49 Points)
30 November 2014
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 30 November 2014
Let, opening stock=x
Closing Stock=x+3000
hence, Average Stock=x+x+3000/2=2x+3000/2=x+1500
Also, average stock=12000,
therefore, x+1500=12000 or x=10500
Hence, Opening Stock=x=10500
and Closing Stock=x+3000=10500+3000=13500
Prajwal Pramod Shewatkar
(CPT)
(49 Points)
Replied 30 November 2014
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