Calculate the amount of medicines consumed during the year:
Particulars April 01, 2019 (?) March 31, 2020 (?)
Stock of Medicines 3,000 4,200
Creditors of Medicines 1,500 1,000
Payment made for medicines during the year amounted to ?4,500. There was no cash
purchase. All purchases were made on credit.
Solution:
Statement showing medicines consumed during the year
Statement showing medicines consumed during the year
| Amount paid for medicines during the year | 4500 |
| Add: opening stock | 3000 |
| Less: closing stock | 4200 |
| Less: opening creditors | 1500 |
| Add: closing creditors | 1000 |
| Medicines consumed during the year | 2800 |