Question : Calculate the amount of medicines consumed during the year ended 31st March, 2019:
Opening Stock of Medicines Rs. 50,000
Closing Stock of Medicines Rs. 45,000 more than Opening Stock
Amount paid for medicines during the year Rs. 2,00,000
Opening Creditors Rs. 20,000
Closing Creditors 50% of Opening Creditors
Option 1: Rs 1,45,000
Option 2: Rs 1,35,000
Option 3: Rs 1,55,000
Option 4: Rs 2,05,000
Correct Answer: Rs 1,45,000
Solution :
Amount paid for medicines during the year = Rs. 2,00,000
(+) Opening Stock of Medicines = Rs. 50,000
(-) Closing Stock of Medicines = (Rs. 95,000)
(-) Opening Creditors = (Rs. 20,000)
(+) Closing Creditors (50%xRs.20,000) =
Rs. 10,000
Amount consumed =
Rs. 1,45,000
Hence, the correct option is 1.
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