the stock was physically verified on mar 24 2009 and was valued at rs 5 00 000 goods 563225

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.

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.

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.

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.

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.

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