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  • Fundamentals of Accounting - 2
  • The value of opening stock is Rs. 80,000. Purchases &...
Multiple choice

The value of opening stock is Rs. 80,000. Purchases & sales during the year are Rs. 8,00,000 & Rs. 7,50,000 (costing Rs. 6,00,000) respectively. Find the value of closing stock.

  1. Rs. 1,30,000

  2. Rs. 2,00,000

  3. Rs. 1,20,000

  4. Rs. 2,80,000

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

 Value of closing stock= opening stock 80,000 + Purchase 8,00,000 - Cost of Sales 6,00,000 = 2,80,000.

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