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Operating Profit Ratio

The cost of i...

Question

The cost of inventory as per physical verification as on 24th March was Rs.4,00,000. Goods are sold at a profit of 25% on cost .
On, 27th January goods of the sale value of Rs.1,00,000 were sent on sale or return basis to customer, the period of approval being two weeks.He returned 20% of the goods on 31st March.
The cost of inventory as per book will be ?

A

Rs.4,00,000

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B

Rs.3,36,000

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C

Rs.4,48,000

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D

None of these

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Solution

The correct option is D Rs.4,00,000
Cost of inventory as on 24th march in the books of accounts will be 4,00,000 because the transactions have taken place on 27th January , which will have no affect on the stock on 24th March.

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