K Ltd absorbs production overheads into inventory on the basis of units of production. 5,000 identical units
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K Ltd absorbs production overheads into inventory on the basis of units of production. 5,000 identical units were produced during the year ended 31 March, 2008. The normal level of activity is 8,000 units. 800 units remained in inventory at the year end. The production costs incurred in the year were:
In accordance with As ---- 2 (Inventory), what should the value of finished goods be stated at in the Balance Sheet of K Ltd. at 31 March, 2008 ?
A. ₹ 7,000
B. ₹ 7,375
C. ₹ 8,000
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Related Book For 
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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