Inventory Accounting and Valuation Test
Module 5 • 10 Questions
Question 1 of 10
0 of 10 answered
A dealer bought 100 televisions in three lots: 30 units at Rs 10,000, 40 units at Rs 9,000 and 30 units at Rs 11,000. It sold 80 units at an average price of Rs 14,000 and the accountant valued the 20 unsold units at Rs 2,20,000 using periodic inventory valuation. What is the profit for the period?
A
Rs 3,50,000
B
Rs 2,20,000
C
Rs 5,70,000
D
Rs 1,30,000