Madhav enterprises Limited is a wholeseller of steel tables and follows perpetual system of accounting for recording inventories. It uses First In First Out (FIFO) method to account for inventories. As of April 1, 2020, it had opening stock of table inventories of 100,000 tables at the cost of 7000 per table. It incurred other operating expenses, finance cost and depreciation expense aggregating to Rs. 61,200,000 during the year FY 2020-2021