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B.Com (Hons.) · Financial Accounting · December 2025
1. (a)
(b)
2. (a)
2. (b) From the information below, find the value of stock on 31-3-2026 according to AS-2. The cost of the physical stock was ₹5,00,000, of which ₹1,00,000 was held as consignee. The stock was expected to realise its normal selling price of 140% of cost, except: goods costing ₹30,000 were damaged, and 10% of the normal selling price had to be spent to realise their cost; goods costing ₹50,000 were damaged beyond repair and were expected to fetch only ₹15,000. (3 marks)
(c)
3. (a)
(b)
Copy 2
From the information below, find the value of stock on 31-3-2026 according to AS-2. The cost of the physical stock was ₹5,00,000, of which ₹1,00,000 was held as consignee. The stock was expected to realise its normal selling price of 140% of cost, except: goods costing ₹30,000 were damaged, and 10% of the normal selling price had to be spent to realise their cost; goods costing ₹50,000 were damaged beyond repair and were expected to fetch only ₹15,000.
Copy 1
From the information below, find the value of stock on 31-3-2026 according to AS-2. The cost of the physical stock was ₹5,00,000, of which ₹1,00,000 was held as consignee. The stock was expected to realise its normal selling price of 140% of cost, except: goods costing ₹30,000 were damaged, and 10% of the normal selling price had to be spent to realise their cost; goods costing ₹50,000 were damaged beyond repair and were expected to fetch only ₹15,000.
1AS-2: inventories are valued at the lower of cost and net realisable value, item by item.
Working note: value of stock (AS-2)
AS-2 · Valuation of Inventories
Inventories are valued at the lower of cost and net realisable value, item by item.
Second solve · without seeing the first
From the information below, find the value of stock on 31-3-2026 according to AS-2. The cost of the physical stock was ₹5,00,000, of which ₹1,00,000 was held as consignee. The stock was expected to realise its normal selling price of 140% of cost, except: goods costing ₹30,000 were damaged, and 10% of the normal selling price had to be spent to realise their cost; goods costing ₹50,000 were damaged beyond repair and were expected to fetch only ₹15,000.
AS-2: inventories are valued at the lower of cost and net realisable value, item by item.
Working note: value of stock (AS-2)
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