Question: Pls help Problem 10. * A fire occurred in the business premises of Mis Sen & Co. on 15th October, 1992. From the following particulars
Pls help

Problem 10. * A fire occurred in the business premises of Mis Sen & Co. on 15th October, 1992. From the following particulars ascertain the loss of stock and prepare a claim for insurance : Rs. Stock at cost as on 1.1.1991 19 2 68,000 Purchases from 1.1.1991 to 31.12.1991 2,44,000 Sales from 1.1.1991 to 31.12.1991 DE FEBRER 3,60,000 Stock at cost as on 31.12.1991 60,000 Purchases from 1.1.1992 to 14.10.1992 2,75,000 Sales from 1.1.1992 to 14.10.1992 3,15,000 During the current year the cost of purchases have risen by 10% above last year's levels, while selling prices have gone up by 5%. The stock saved from fire was worth Rs. 7,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
