(b) Following are the details of material of Raman Traders: Date Particulars Units and Cost per unit 1.1.2020 Opening Stock 200 units @ Rs 55 per unit 50 units @ Rs 60 per unit 150 units @ Rs 64 per unit 100 units @ Rs 70 per unit 1.1.2020 Purchases 15.1.2020 Sales 1.2.2020 Purchases 10.2.2020 Purchase Return (Dated 1.2.2020) 20 units 100 units @ 75 per unit 50 units @ 74 per unit 200 units @ 80 per unit 15.2.2020 Sales 20.2.2020 Sales 20.2.2020 Purchases 21.2.2020 Loss by fire 50 units Find out the cost of closing stock as on 31.03.2020 weighted average cost method using perpetual inventory system. Also calculate the cost of goods sold and gross profit.
(b) Following are the details of material of Raman Traders: Date Particulars Units and Cost per unit 1.1.2020 Opening Stock 200 units @ Rs 55 per unit 50 units @ Rs 60 per unit 150 units @ Rs 64 per unit 100 units @ Rs 70 per unit 1.1.2020 Purchases 15.1.2020 Sales 1.2.2020 Purchases 10.2.2020 Purchase Return (Dated 1.2.2020) 20 units 100 units @ 75 per unit 50 units @ 74 per unit 200 units @ 80 per unit 15.2.2020 Sales 20.2.2020 Sales 20.2.2020 Purchases 21.2.2020 Loss by fire 50 units Find out the cost of closing stock as on 31.03.2020 weighted average cost method using perpetual inventory system. Also calculate the cost of goods sold and gross profit.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(b) Following are the details of material of Raman Traders: Date Particulars Units and Cost per unit 1.1.2020 Opening Stock 200 units @ Rs 55 per unit 50 units @ Rs 60 per unit 150 units @ Rs 64 per unit 100 units @ Rs 70 per unit 1.1.2020 Purchases 15.1.2020 Sales 1.2.2020 Purchases 10.2.2020 Purchase Return (Dated 1.2.2020) 20 units 100 units @ 75 per unit 50 units @ 74 per unit 200 units @ 80 per unit 15.2.2020 Sales 20.2.2020 Sales 20.2.2020 Purchases 21.2.2020 Loss by fire 50 units Find out the cost of closing stock as on 31.03.2020 weighted average cost method using perpetual inventory system. Also calculate the cost of goods sold and gross profit.
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