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From the Following Information, Calculate Change in Inventory of Stock-in-trade: - Accountancy

Ledger

From the following information, calculate Change in Inventory of Stock-in-Trade: Opening and Closing Stock-in-Trade ₹5,00,000 and ₹4,50,000 respectively.

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Solution

NOTES TO ACCOUNTS

Note No.

Particulars

Amount

(Rs)

(a)

Stock-in-Trade

 

 

Opening Inventory

5,00,000

 

50,000

 

  Less: Closing Inventory

4,50,000

 

 

50,000

Rs 50,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Stock-in-Trade. 

Concept: Role and Objectives of Financial Management
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APPEARS IN

TS Grewal Class 12 Accountancy - Analysis of Financial Statements
Chapter 1 Financial Statements of a Company
Exercise | Q 39 | Page 70
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