2013年10月8日星期二

Accounting Question - Stock Valuation?

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The closing inventory of M/s Bells was RS-284,000 at 30th September 2009. This total included two inventory lines about which the inventory taker is uncertain


i. 50 items of cost of Rs-15 each were included at Rs-7,500. These items were found defective on the reporting date. Remedial work after the reporting date cost Rs-1,800 and the items were sold out at Rs-20 each. Selling expenses were 400.


ii. 100 items with a cost of Rs-10 each were sold out at a price Rs-8 each after the reporting date. Selling expenses were Rs-150.
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  • Accounting Question - Stock Valuation?

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