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Question
From the following information, calculate Change in Inventory of Work-in-Progress: Opening and Closing Work-in-Progress ₹1,00,000 and ₹1,15,000 respectively.
Solution
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (Rs) |
|
|
(a) |
Work-in-Progress |
|
|
|
|
Opening Inventory |
1,00,000 |
(15,000) |
|
|
Less: Closing Inventory |
1,15,000 |
|
|
|
|
(15,000) |
|
(Rs 15,000) will be shown in the Statement of Profit and Loss against Change in Inventories of Work-in-Progress.
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