Question

From the following information, calculate Change in Inventory of Work-in-Progress:

Opening and Closing Work-in-Progress ₹1,50,000 and ₹1,45,000 respectively.

Answer 1

NOTES TO ACCOUNTS 

Note No.	Particulars		Amount (Rs)
(a)	Work-in-Progress
	Opening Inventory	1,50,000	5,000
	Less: Closing Inventory	1,45,000
			5,000

Rs 5,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Work-in-Progress.