Class/Course - CA - CPC

Subject - Fundamentals of Accounting

Chapter - Final Accounts


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Q.1 Cost of physical stock on 15.4.14 was Rs. 3, 00,000. Sales amounting Rs. 1, 00,000 and purchases worth Rs. 50,000 were held between 31.3.14 and 15.4.14. Goods are sold at a profit of 20% on sales. Value of Inventory as on 31.3.14:
  Rs. 3,50,000
  Rs. 2,70,000
  Rs. 3,00,000
  Rs. 3,30,000