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(vii) At the time of dissolution of a partnership firm, its balance sheet showed stock of 40,000 comprising of easily marketable items, obsolete items and

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(vii) At the time of dissolution of a partnership firm, its balance sheet showed stock of 40,000 comprising of easily marketable items, obsolete items and a few miscellaneous other items. These items were realised as (a) Easily marketable items: 70% of the total inventory - in full. (b) Obsolete items: 10% of the remaining inventory - discarded. (c) The miscellaneous other items in the stock 20% of their book value. You are required to calculate the amount realised from the sale of stock. [1]

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