On 31 March, 2007, stock consists of 1,500 units of a raw material purchased @ 8
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On 31 March, 2007, stock consists of 1,500 units of a raw material purchased @ ₹ 8 each, but the unit price of the item has fallen to ₹ 7. The price reduction is apprehended to be permanent. The firm has already decided that if the price reduction lasts longer than six months it will reduce the sale price of the finished goods from ₹ 12 to ₹ 11. The value of closing stock is :
A. ₹ 16,500
B. ₹ 10,500
C. ₹ 12,000
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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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