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

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:

 Particulars Opening Inventory Closing Inventor Finished Goods 5,00,000 5,50,000 Work-in-Progress 4,50,000 4,25,000 Stock-in-Trade 6,50,000 6,00,000

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

 Particulars Details Amount 1.Opening Inventory of Finished goods 5,00,000 Less: Closing Inventory of Finished Goods 5,50,000 Change In Inventory of Stock-in-Trade* (50,000) 2.Opening Work-in-Progress 4,50,000 Less: Closing Work-in-Progress 4,25,000 Change In Inventory of Work-in-Progress** 25,000 3.Opening Stock-in-Trade 6,50,000 Less: Closing Stock-in-Trade 6,00,000 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

Balance Sheet: Meaning, Format & Examples

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