The stock was physically verified on Mar 24, 2009 and was valued at Rs 5,00,000. Goods are normally sold by the trader at a profit of 25% on cost.
You are required to compute the value of stock to be taken to Balance Sheet of VRV Ltd as on Mar 31, 2009 in each of the following alternative cases.
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Case (a): |
On Mar 28, goods of sale value of Rs 2,00,000 were sent on sale or return basis to a customer, the period of approval being two weeks. |
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Case (b): |
On Mar 28, goods of the sale value of Rs 2,00,000 were sent on sale or return basis to a customer, the period of approval being two weeks. He returned 20% of goods on Mar 31. |
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Case (c): |
On Mar 28, goods of the sale value of Rs 2,00,000 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 Mar 31. |
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Case (d): |
On Mar 28, goods of the sale value of Rs 2,00,000 were sent on sale or return basis to a customer, the period of approval being two weeks. He returned 20% of goods and approved 80% of the remaining on Mar 31. |