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Question
From the following information, calculate Change in Inventory of Work-in-Progress:
Opening and Closing Work-in-Progress ₹1,50,000 and ₹1,45,000 respectively.
Solution
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (Rs) |
|
|
(a) |
Work-in-Progress |
|
|
|
|
Opening Inventory |
1,50,000 |
5,000 |
|
|
Less: Closing Inventory |
1,45,000 |
|
|
|
|
5,000 |
|
Rs 5,000 will be shown in the Statement of Profit and Loss against Change in Inventories of Work-in-Progress.
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Closing inventory(₹) |
||
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||
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