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CA CPT 2016 June Question Paper Fundamentals of Accounting for online practice

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Question : 43

Total: 60

Sales for the year ended 31st March, 2010 amounted to Rs.10,00,000. Sales included goodssold to Mr. A for Rs.50,000 at a profit of 20% on cost. Such goods are still lying in the godownat the buyer’s risk. Therefore, such goods should be treated as part of:

Sales
Closing inventory
Goods in transit
Sales return

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