Tag: methods of valuation of closing stock

A and B entered into a joint Venture to purchase and sell a new item. They agreed to share the profits and losses equally, A purchased goods worth Rs. 90,000 and spent Rs. 25,000 in sending the goods, B spent Rs. 5,000 as selling expenses and sold goods for Rs. 20,0000. What will be the amount  remitted by B to A as final settlement ?

Under sales on return or approval basis, the ownership of goods is passed only ___________________.

A, for joint venture with B, purchased goods costing 2,00,000, B sold 80% of' the goods for Rs. 2,50,000. Balance of goods were taken over by B at cost less 25%. Find out profit on venture ?

Which of the following are generally the inventories of a service business _________.

Which method of inventory valuation helps in reducing the burden of income tax in times of rising prices?

A higher inventory ratio indicates ____________.

Activities related to coordinating, controlling and planning flow of inventory are classified as ________________.

Which of the following is not included in cost of inventory?

Inventory, is generally valued as lower of ________________.

Which one out of the following is not an inventory valuation method?