CA CPT June 2015 Question Paper Fundamentals of Accounting for online practice
© examsiri.com
Question : 30 of 60
Marks:
+1,
-0
M/s X, Y and Z are in retail business. The following information is obtained from their records for the year ended 31-03-2014.
Goods received from suppliers Rs 17,25,000(Subject to trade discount & taxes)
Trade discount 3% and Sales Tax 11%
Packaging & Transportation Charges Rs 95,000
Sales Rs 25,00,000
Selling price of closing inventory Rs 4,00,000
Find out the historical cost of inventory by using adjusted selling price method.
Goods received from suppliers Rs 17,25,000(Subject to trade discount & taxes)
Trade discount 3% and Sales Tax 11%
Packaging & Transportation Charges Rs 95,000
Sales Rs 25,00,000
Selling price of closing inventory Rs 4,00,000
Find out the historical cost of inventory by using adjusted selling price method.
Go to Question: