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1 . A company closed its accounts on 3 1 st March each year. It could not complete the physical verification of stock on 3

1. A company closed its accounts on 31st March each year. It could not complete the physical verification of stock on 31st March, 2018; while continued upto 7th April. The stock as disclosed by the books was Rs.2,00,000. The following facts came to notice during physical verification:(a) Goods received on consignment amounting to Rs.10,000 was included in stock;(b) Sales from 1st April to 7th April, amounted to Rs.21,500 and included the following : (i)Goods sent on consignment: Rs.12,500 at invoice price, which is made up of cost plus 25%.(ii)Goods sent to branch at invoice price Rs.4,200. Invoice price is calculated at a profit of 1/6th of the sale.(iti)Other sales are at a profit for 1/3 rd of cost.(iv)Damaged goods were sold for Rs.800 at a loss of 20% of cost.(c) Goods amounting to Rs.18,000 have been received in the stores before 31st Marchbut passed through the books on 6th April(d) Invoices were issued for Rs. Rs.2,800 on 1st April, but goods had not been delivered till 7ch April. These sales are not included in (b) above.Determine the value of stock to be taken for the purpose of preparing the final accounts of the company for the year ended on 31st March, 2018.

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