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Changes in Trade Payables

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Question

From the following information, calculate Change in Inventory of Work-in-Progress: Opening and Closing Work-in-Progress ₹1,00,000 and ₹1,15,000 respectively.

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Solution

NOTES TO ACCOUNTS

Note No.

Particulars

Amount

(Rs)

(a)

Work-in-Progress

Opening Inventory

1,00,000

Less: Closing Inventory

1,15,000

(15,000)

(15,000)

(Rs 15,000) will be shown in the Statement of Profit and Loss against Change in Inventories of Work-in-Progress.

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