CA CPT 2016 June Question Paper Fundamentals of Accounting for online practice
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Question : 21 of 60
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The books of T Ltd. revealed the following information:
On March 31, 2015, the value of inventory as per physical Inventory-taking was Rs. 10,45,000. 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 cost of goods sold & estimated cost of missing inventory?
| Particulars | Rs. |
| Opening inventory | 7,50,000 |
| Purchases during the year 2014-15 | 22,50,000 |
| Sales during the year 2014-2015 | 25,00,000 |
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