Vijay Industries manufactures a product X. On 1st January 2007, there were 5000 units of finished product in stock. Other stocks on 1st January 2007 were as follows:
The information available from cost records for the year ended 31st December 2007 was as follows:

There are 15000 units of finished stock in hand on 31st December 2007. You are required to prepare:

A statement of cost and profit assuming that opening stock of finished goods is to be valued at the same cost per unit as the finished stock at the end of the period.

Transcribed Image Text:

Works-in-progress Raw materials Rs. 57,400 Rs. 1,16,200