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Insurance claim for stock

Accountancy

In july 2021 Question paper, why they not taken cost price of stock for abnormal item. They have taken reduced value. In book, they have taken cost price. But, why following different approach for this sum? Anyone

vs navin

CA Final

★ 1K+

15-Mar-22 23:27

416

Answers (1)

Cost of abnormal item which is included in opening stock is only 13000 Total cost is 20000 but 7000 already written off

Sudha Reddy

CA Final

★ 20K+

17-Mar-22 10:24