Question : Opening stock of medicines = Rs.50,000.
Closing stock of medicines Rs.45,000 more than opening.
Amount paid for medicines during the year = Rs 2,00,000.
Opening creditor = Rs.20,000.
Closing creditor 50% of opening creditors.
Amount of medicines consumed during the year is?
Option 1: Rs.1,35,000
Option 2: Rs.1,55,000
Option 3: Rs.1,45,000
Option 4: Rs.2,50,000
Correct Answer: Rs.1,45,000
Solution :
Amount paid for medicines = Rs.2,00,000
(+) Opening stock = Rs.50,000
(-) Closing stock = (Rs.95,000) [Rs.50,000 + Rs.45,000]
(+) Closing creditors = Rs.10,000 [Rs.20,000 X 50%]
(-) Opening creditors =
(Rs.20,000)
Amount of medicines consumed =
Rs.1,45,000
Hence, the correct option is 3.
