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Do correct QUESTION 103 On 31st March 2017, a business firm finds that cost of a partly finished unit on that dateisRs.530.Theunitcanbefinishedin2017-18byanadditionalexpenditureof Rs.310. The finished

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QUESTION 103 On 31st March 2017, a business firm finds that cost of a partly finished unit on that dateisRs.530.Theunitcanbefinishedin2017-18byanadditionalexpenditureof Rs.310. The finished unit can be sold for Rs.750 subject to payment of 4% brokerage on selling price. The firm seeks your advice regarding the amount at which the unfinished unit should be valued as at 31st March, 2017 for preparation of final accounts. Assume that the partly finished unit cannot be sold in semi finished form and its NRV is zero without processing it further

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