Anshul manufacturers purchased 20,000 Kg. of raw material at 170 per Kg. Direct transit cost incurred - 5,00,000 and normal transit loss is 3%.…
CA Intermediate · Advanced Accounting · MTP · September 2024
Anshul manufacturers purchased 20,000 Kg. of raw material at 170 per Kg. Direct transit cost incurred - 5,00,000 and normal transit loss is 3%. Anshul manufacturers actually received 19,000 kg of raw material. During the year it consumed 17,600 kg of raw material. Further information: (i) The purchase price includes 15 per kg as GST in respect of which full credit is allowed and will be availed by Anshul manufacturers. (ii) Assume that there is no opening stock. Answer the following questions based on above:
Suggested Answer and Working Notes:
Correct Answer: Option (A)
₹ 36,00,000
Topics: AS 12
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