alleryStart learning →Stock bought for EUR 1,000 at Rs 90 is carried at cost; closing rate is Rs 95. Reported at?
ARs 95,000
BRs 85,500
CRs 92,500
DRs 90,000
Answer & Solution
Correct answer: D. Rs 90,000
Inventory at historical cost is kept at the purchase-date rate, so 1,000 x 90 = Rs 90,000.
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