CA CPT Model Test Paper 10 with solutions for online practice

Sohan as a trader purchased goods for Rs. 5,00,000 and sold 70% of such goods during the accounting year ended 31st December 2009. The Market value of the remaining goods was Rs. 1,00,000. He valued the closing Inventory at Rs. 1,00,000 and not Rs. 1,50,000 due to