QUESTION 109 Hello Ltd. purchased goods at the cost of Rs.20 lakhs in October. Till the end of the financial year, 75% of the stocks were sold. The Company wants to disclose closing stock at Rs.5 lakhs. The expected sale value is Rs.5.5 lakhs and a commission at 10% on sale is payable to the agent. You are required to ascertain the value of closing stock?
QUESTION 109 Hello Ltd. purchased goods at the cost of Rs.20 lakhs in October. Till the end of the financial year, 75% of the stocks were sold. The Company wants to disclose closing stock at Rs.5 lakhs. The expected sale value is Rs.5.5 lakhs and a commission at 10% on sale is payable to the agent. You are required to ascertain the value of closing stock?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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