CA CPT Model Test Paper 3 with solutions for online practice

M/s Delhi Stationers purchase goods from the manufacturers, do packaging and labelling and sell to their customers. At the year-end they had 1,000 pieces of toilet soaps in hand, purchase price of which is Rs.3.25 per piece. These are yet not packed and labelled. The packaging cost per unit is Rs. 0.35 per piece and selling price is Rs. 4.25 per piece. The historical cost and selling price of the closing stock will be: