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Calculate Cost of Materials Consumed from the Following: - Accountancy

Sum

Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹5,00,000; Purchase of Materials ₹25,00,000; and Closing Inventory of Materials ​₹4,00,000.

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Solution

Cost of Material Consumed = Opening Inventory of Material + Purchase of Materials - Closing Inventory of Materials

= 500000 + 2500000 - 400000 = 2600000

∴ Cost of Materials Consumed is Rs 2600000

Concept: Types of Financial Statements
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APPEARS IN

TS Grewal Class 12 Accountancy - Analysis of Financial Statements
Chapter 1 Financial Statements of a Company
Exercise | Q 32 | Page 70
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