CA Foundation · Principles and Practice of Accounting
Inventory and Final Accounts
2 practice questions, each with the answer and an explanation.
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Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.
All 2 questions
- A trader has an opening stock of 200 units at Rs 5, buys 300 units at Rs 5 and then 100 units at Rs 6. He sells 400 units. What is the value of closing stock under FIFO?
- A trader has an opening stock of 100 units at Rs 10, buys 200 units at Rs 10 and then 200 units at Rs 12. He sells 250 units. What is the value of closing stock under FIFO?
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