Question 2 Mr. A prepares accounts on 30th September each year, but on 31st December, 2016 fire destroyed the greater part of his stock. Following information was collected from his book: Amt in RO Stock as on 1.10.2016 29,70 0 Purchases from 1.10.2016 to 31.12.2016 75,00 0 Wages from 1.10.2016 to 31.12.2016 33,00 0 Sales from 1.10.2016 to 31.12.2016 140,00 0 The rate of gross profit is 33.33% on cost. Stock to the value of RO 3,000 was salvaged. Insurance policy was for RO 25,000 and claim was subject to average clause. Additional information: Stock at the beginning was calculated at 10% less than cost. ( mA plant was installed by firm's own worker. He was paid RO 500, which was included in wages. (ii) Purchases include the purchase of the plant for RO 5,000. You are required to calculate the claim for the loss of stock