Question 34 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 34 Chapter 1 of +2-B

Question 34 Chapter 1 of +2-B

Cost of Material Consumed

34. Calculate Cost of Materials Consumed from the following:
Opening Inventory of : materials Rs. 3,50,000; Finished Goods Rs. 75,000;Stock-in-Trade Rs. 2,00,000 Closing Inventory of: Materials Rs. 3,25,000; Finished Goods Rs. 85,000; Stock-in- Trade Rs. 1,50,000 Purchases during the Year: Raw material Rs. 17,50,000; Stock-in-Trade Rs. 9,00,000

The solution of Question 34 Chapter 1 of +2-B: – 

Particulars

Details

Amount
Opening Inventory of material 3,50,000  
Add: Purchase of Material 17,50,000  
  21,00,000  
Less: Closing Inventory of Materials 3,25,000  
Cost of Materials Consumed*   17,75,000

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


To understand more about Balance Sheet please check out following links:

Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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2 Book 3 min 225x300 - Question 34 Chapter 1 of +2-B  - T.S. Grewal 12 Class
T.S. Grewal’s Analysis of Financial Statements

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