Problem 4. 7 A fire occurred in the godown of Angibhay Ltd. on 9th March, 1992 destroying the entire stock. The books and records were salvaged from which the following particulars were ascertained : Rs. 10.01.000 3,00,000 8,00.000 1,25,000 3,31,100 The company has been following the practice of valuing the stock of goods at 3,85,000 actual cost plus 10%. Included in the stock on 1.1.91 were some shop-soiled Sales for the year, 1992 Sales for the period from 1.1.92 to 8.3.92 Purchases for the year, 1991 Purchases for the period from 1.1.92 to 8.3.92 Stock on 1.1.91 Stock on 31.12.91 goods which originally cost Rs. 2,000, but were valued at Rs. 1,100. These goods were sold during the year 1991, for Rs. 1,000. Subject to this, the rate of gross profit and the basis of valuation of stock were uniform. You are required to ascertain the value of the stock destroyed