Question

Cost of stock as per books is Rs.2,38,000
Goods purchases for Rs.10,000 received but omitted to be recorded
Goods costing Rs.20,000 were sold & delivered but omitted to be recorded
Goods costing Rs.5,000 were returned by customers but omitted to be recorded.
Goods costing Rs.3,000 were returned to suppliers but omitted to be recorded.
The value of physical inventory is ___________.

• A. Rs.2,26,000
• B. Rs.2,30,000
• C. Rs.2,46,000
• D. None of these

Answer 1

Answer: (B)

Rs.2,30,000

Cost of stock as per books 2,38,000

Add:- purchases recorded but omitted to be recorded 10,000

Less;- Goods sold, not recorded (20,000)

Add:- Goods returned by customers 5,000

less:- Goods returned to suppliers (3,000)

---------------

Cost of physical inventory 2,30,000