Cost of goods sold is Rs. 80,700 Opening inventory is Rs. 5,800 Closing inventory is Rs. 6,000

What is the amount spent on purchase?

The total cost of goods available for sale with a company during the current year is Rs. 12,00,000 and the total sale during the period is Rs. 13,00,000. The gross profit margin of the company is 33 1/3% on cost.

What is the value of closing inventory during the current year?

Average inventory is Rs. 12,000 Closing inventory is Rs. 3,000 more than opening inventory.

What is the value of closing inventory?

Opening stock is Rs. 22,000 Closing stock is Rs. 25,000 Purchases less returns is Rs. 1,10,000 Gross profit margin (on sales) is 20%

What will be the amount of sales?

Consider the following for Q Co. for the year 2014-15: Cost of goods available for sale is Rs. 1,00,000 Total sales are Rs. 80,000 Opening inventory of goods is Rs. 20,000 Gross profit margin is 25% on sales

Ascertain the value of the closing inventory for the year ending 2014-15.

The books of T Ltd. revealed the following information: Opening inventory is Rs. 6,00,000 Purchases during the year 2014-15 are Rs. 34,00,000 Sales during the year 2014-15 are Rs. 48,00,000 On March 31, 2015, the value of inventory as per physical inventory taking was Rs. 3,25,000. The company's gross profit on sales has remained constant at 25%. The management of the company suspects that some inventory might have been pilfered by a new employee.

What is the estimated cost of missing inventory?

C Ltd. recorded the following information as on March 31, 2016: Inventory as on April 1, 2015 is Rs. 80,000 Purchases are Rs. 1,60,000 Sales are Rs. 2,00,000 It is noticed that goods worth Rs. 30,000 were destroyed due to fire. Against this, the insurance company accepted a claim of Rs. 20,000. The company sells goods at cost plus 33 1/3%.

What will be the value of closing inventory for the year ended 31 March, 2016 after taking into account the given information?

E Ltd, a dealer in second hand cars, has the following five vehicles of different models and makes in their inventory at the end of the financial year 2015-2016

What is the value of inventory to be included in the balance sheet of the company as on March 31, 2016?

Consider the following data pertaining to H Ltd. for March 2016: Opening inventory is Rs. 1,80,000 Closing inventory is Rs. 90,000 The company made purchases amounting to Rs. 3,30,000 on credit during the month. The company paid an amount of Rs. 3,50,000 to the suppliers during the month. The goods are sold at 25% above cost.

What is the amount of sales for March 2016?

Consider the following data pertaining to R Ltd. for June 2015: Opening inventory is Rs. 30,000 Closing inventory is Rs. 40,000 Purchases are Rs. 5,60,000 Returns outward is Rs. 15,000 Returns inward is Rs. 20,000 Carriage inward is Rs. 5,000

If the gross profit margin is 20% of net sales, what will be the amount of gross sales for June 2015?

On April 7, 2016, i.e. a week after the end of the accounting year 2010-11, a company undertook physical inventory verification. The value of inventory as per physical inventory verification was found to be Rs. 35,000. The following details pertaining to the period April 01, 2016, to April 07, 2016 are given as follows:1. Goods costing Rs. 5,000 were sold during the week.

1. Goods received from consignor amounting to Rs. 4,000 were included in the value of inventory.
2. Goods earlier purchased, but returned during the period amounted to Rs. 1,000.
3. Goods earlier purchased and accounted, but not received were for Rs. 6,000.

After considering the above, what will be the amount of inventories held as on March 31, 2016?

O Ltd. maintains the inventory records under perpetual system of inventory. Consider the following data pertaining to the inventory of O Ltd. held for March, 2016.

If the company sold 32 units on March 24, 2016, what will be the value of closing inventory under FIFO method for March 2016?

S Ltd. follows perpetual inventory system. On March 31 of every year, the company undertakes physical inventory verification. On March 31, 2016, the value of inventories as per the records differed from the values of the inventory as per physical inventory.

On scrutiny, the following differences were noticed:

1. Goods purchased for Rs. 10,000 were received and included in the physical inventory, but no entry was made in the books.
2. Goods costing Rs. 30,000 were sold and entered in the books, but the inventory was yet to be delivered.
3. Goods worth Rs. 5,000 were returned to the suppliers, but were omitted from the record.

If the inventory is valued in the books at Rs. 1,50,000, what is the value of the physical inventory?

Consider the following information pertaining to G & Sons. as on March 31, 2016: Opening inventory was Rs. 15,00,000. Purchases during the year were Rs. 45,00,000. Sales during the year were Rs. 50,00,000. As per physical inventory taken on March 31, 2016, the closing inventory was Rs. 20,90,000. Gross profit on sales has remained constant at 25%. The management of the firm suspects that some inventory might have been taken away by a new employee.

What will be the estimated cost of missing inventory on the close of the financial year and the cost of goods sold during the year?

Consider the following data pertaining to credit purchases made by K Ltd, a dealer in electronic goods, for March 2016:

At the time of making payment on March 31, 2016, the suppliers allow a cash discount of 10% on the above purchases. What will be the amount of purchases for March 2016?