From the following particulars, ascertain the profit earned by the branch:
|
Rs |
|
|
Opening Stock |
1,20,000 |
|
Goods sent to Branch (Invoice Price) |
6,60,000 |
|
Expenses at Branch |
30,000 |
|
Sales at Branch |
8,10,000 |
Goods are invoiced to the branch at cost plus 33 1/3%; the sale price is cost plus 50%. Also ascertain the stock reserve that must be maintained in respect of the unrealised profit.