CA CPT Model Test Paper 2 with solutions for online practice

Chetan Ltd. recorded the following information as on March 31, 2010

Inventory (1-4-2009)	Rs. 40,000
Purchases	Rs. 80,000
Sales	Rs. 1,00,000

It is noticed that goods worth Rs. 30,000 were destroy due to fire against this, the insurance company accepted a claim of Rs. 14,000.
The company sells goods at cost plus 33.33%. The value of closing inventory, after takinginto account the above transaction is