Question 41 Chapter 1 of +2-B – T.S. Grewal 12 Class

Question 41 Chapter 1 of +2-B
Question No. 41 - Chapter No.1 - T.S. Grewal +2 Book Part B-min


Question 41 Chapter 1 of +2-B


Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

41.From the following information of Hospitality Ltd. For the year ended 31st March,2018, calculate amount that will be shown in the Note to Accounts on Changes in Inventories of finished Goods, WIP and Stock-in-Trade:

ParticularsOpening InventoryClosing Inventor
Finished Goods5,00,0005,50,000
Work-in-Progress 4,50,0004,25,000

 The solution of Question 41 Chapter 1 of +2-B: – 



 1.Opening Inventory of Finished goods5,00,000 
Less: Closing Inventory of Finished Goods5,50,000 
Change In Inventory of Stock-in-Trade* (50,000)
2.Opening Work-in-Progress4,50,000 
Less: Closing Work-in-Progress4,25,000 
Change In Inventory of Work-in-Progress** 25,000
3.Opening Stock-in-Trade6,50,000 
Less: Closing Stock-in-Trade6,00,000 
Change In Inventory of Stock-in-Trade*** 50,000

*Change in finished goods=Opening Inventory of Finished Goods-Closing Inventory of Finished goods

**Change in Inventory of Work-in-Progress=Opening Inventory of Work-in-Progress-Closing Inventory of Work-in-Progress


***Change in Inventory of Stock-in-Trade=Opening Inventory of Stock-in-Trade-Closing Inventory of Stock-in-Trade

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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication


Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements


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