The stock was physically verified on Mar 24, 2009 and was valued at Rs 2,75,000. Goods are normally…

The stock was physically verified on Mar 24, 2009 and was valued at Rs 2,75,000. Goods are normally sold by the trader at a profit of 25% on cost.

You are required to compute the value of stock to be taken to the Balance Sheet of VRS Ltd as on Mar 31, 2009 in each of the following alternative cases:

Case (a):

On Mar 21, goods of the sale value of Rs 50,000 were sent on sale or return basis to customer, the period of approval being two weeks.

Case (b):

On Mar 21, goods of the sale value of Rs 50,000 were sent on sale or return basis to a customer, the period of approval being two weeks. He returned 20% of the goods on Mar 31.

Case (c):

On Mar 21, goods of the sale value of Rs 50,000 were sent to on sale or return basis to a customer, the period of approval being two weeks. He approved 80% of the goods on Mar 31.

Case (d):

On Mar 21, goods of the sale value of Rs 50,000 were sent on sale or return basis to a customer, the period of approval being two weeks. He returned 20% of the goods and approved 80% of the remaining on Mar 31.

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