_________________ shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

Revenue from operations

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Other Expenses

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Cost of Material Consumed

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None of these

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Solution

The correct option is C
Cost of Material Consumed

Cost of materials consumed shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

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Similar questions

Q. Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹3,50,000; Finished Goods ₹75,000; Stock-in-Trade ₹2,00,000; Closing Inventory of: Materials ₹3,25,000; Finished Goods ₹85,000; Stock-in-Trade ₹1,50,000; Purchases during the year: Raw Material ₹17,50,000; Stock-in-Trade ₹9,00,000.

Q. Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹2,50,000; Finished Goods ₹1,00,000; Closing Inventory of Materials ₹2,25,000; Finished Goods ₹75,000; Raw Material purchased during the year ₹15,00,000.

Q. Which of the following statements are correct?
I. Inventory includes raw materials, finished goods and work-in-progress
II. Inventory is a part of the working capital
III. Inventory includes goods likely to be purchased.

Q. Change in inventories of finished goods, work-in-progress and stock-in-trade means _________________________.

From the following information prepare a Comparative Statement of Profit & Loss of Victor Ltd. :

$\begin{matrix} 31.03.2017 & 31.03.2016 Rs. & Rs. Revenue from Operations & 18, 00, 000 & 15, 00, 000 Cost of Materials Consumed & 14, 00, 000 & 11, 00, 000 Other Expenses & 12 % of Materials & 10 % of Materials Consumed & Consumed Income Tax & 50 % & 40 % \end{matrix}$

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_________________ shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

The correct option is C Cost of Material Consumed Cost of materials consumed shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

The correct option is C
Cost of Material Consumed

Cost of materials consumed shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.