alleryStart learning →Opening 100 units at Rs 10; bought 300 at Rs 14; sold 250. Average-cost closing stock?
ARs 1,800
BRs 2,100
CRs 1,950
DRs 2,250
Answer & Solution
Correct answer: C. Rs 1,950
Total cost 1,000 + 4,200 = 5,200 over 400 units gives Rs 13 a unit, so 150 units left are worth Rs 1,950.
Keep practising Inventories
Browse all Inventories questions for CA Foundation, or explore more Accounting topics.
Related questions
Land held for resale by a dealer is classified asWhich items count as inventories held as materials or supplies?Stock on 5 April is 2,40,000; April 1-5 sales 50,000 at 25% on cost, purchases 15,000. StoWhich three heads make up the cost of inventories?Costs of conversion include costs directly related to units, such asThe cost of inventories may be unrecoverable if stock isWhich inventory method most closely mimics the physical flow of goods?Opening stock 40,000; purchases 1,60,000; sales 2,00,000; gross profit 25% of sales. Closi