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Question 33 Chapter 1 of +2-B
Cost of Material Consumed
33. Calculate Cost of Materials Consumed from the following:
Opening Inventory of; materials Rs. 2,50,000; Finished Goods Rs. 1,00,000; Closing Inventory of: Materials Rs. 2,25,000; Finished Goods Rs.75,000; Raw Material purchased during the year Rs. 15,00,000
|
Particulars |
Details |
Amount |
|---|---|---|
| Opening Inventory of material | 2,50,000 | |
| Add: Purchase of Material | 15,00,000 | |
| 30,00,000 | ||
| Less: Closing Inventory of Materials | 2,25,000 | |
| Cost of Materials Consumed* | 15,25,000 |
*Cost of Materials Consumed=Opening Inventory of material + Purchase of Material-Closing Inventory of Materials
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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