Inventories-Test 6

In retail inventory method ,original selling price may be modified. If the selling price is lowered below the original selling price, it is known as ————

The inventory method where the cost per unit is re-computed after every addition in the inventory is known as ———-

Which of these in not one of the objectives of inventory valuation?

Which of these is a feature of periodic inventory method?

The appropriate method of valuation for dearer item is ————-

Which of the following is not classified as inventory in the financial statements?

Which of the following systems of inventory valuation computes cost of goods sold as a residual amount?

Recent development have made much of a company’s inventory obsolete.This obsolete inventory should be ———–

Cost of carrying inventory implies ————-

A company has inadvertently overstated its ending inventory. This will ——–

ABC analysis is a ———–

Which of the following method of inventory valuation proceeds on the assumption that a minimum quantity of stock must be held at all time to carry of business?

The rate of consumption of raw material is an important factor in determining their ———–

Stock valuation is done at the latest price under the ————

Valuation of closing stock at market price or cost whichever is lower,is an example of which principle?

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 between 24th March and 31 March , the following transactions took place .

A) Purchases Rs.2,00,000 out of which 20% goods were returned

B) Sales of Rs.2,00,000 out of which 20% goods were returned.The goods are sold at a profit of 25% of cost.

The cost of inventory as per books is :

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks

The cost of inventory as per books is ————

The cost of inventory as per physical verification as on 24.03.2017 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.He returned 20% of the goods on 31 st March .

The cost of inventory as per book is :

The cost of inventory as per physical verification as on 24.03.2017 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.He approved 80% of goods on 31 st March

The cost of inventory as per books is ————

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.He returned 20% of the goods and approved the remaining on 31 st March.

The cost of inventory as per book is ————

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.He returned 20% of goods and approval 80% of the remaining on 31 st March.The cost of inventory as per book is ——-

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.

The cost of inventory as per book is ————

The cost of inventory as per physical verification as on 24.03.2007 was Rs.4,00,000 goods are sold at a profit of 25% on cost.

On 21 st March, goods of the sale value of Rs.1,00,000 were sent on sale or return basis to a customer the period of approval being two weeks.He returned 20% of the goods on 31 St March. The cost of inventory as per books is ———–

It is given that the cost of the stock is Rs.100. However its current market price is Rs.95(Buying) and Rs.90(Selling).If the market price is

inter-predicted in the sense of replacement cost, the cost should be valued at ———-

A firm closes their financial books on 31 st March. Stock taking could be completed after two weeks i.e 15Th April the value arrived was

RS.25,000. During the two weeks purchases were Rs.1,000 and sales were off Rs.4000. G.P Ration of the firm is 30%. Ascertain the value of closing stock as on 31 St March

Find out the value of closing stock from the following

Opening stock         :                   70,000

Purchases during the period : 4,16,000

Sales during the period :           5,22,000

Gross profit yearned : 25% of the cost

Standard cost is ————

The list price of goods (Cost of Rs.100) is cost Plus 100% and the invoice price is 20% less than the list price .Hence the invoice price will be ———–

It is given that the cost of stock is Rs.100. However its market price is Rs.98(Buying) and Rs.140(Selling). If the market price is inter-predicted in the sense of replacement cost, the stock should be valued at ———

It is given that the cost of stock is Rs.100. However its market price is Rs.95(Buying) and Rs.140(Selling). If the market price is inter-predicted as the selling price, then the stock should be valued at