What will be the closing inventory of the company, if the following information is available? PARTICULARS AMOUNT (₹) Cost of goods sold 540000 Purchases 550000 Direct expenses 30000 Opening inventory 70000

₹100000 ₹120000 ₹90000 ₹110000

₹110000

Cost of goods sold = opening inventory + purchase + direct expenses - closing inventory    540000              = 70000 + 550000 +30000 - closing inventory Closing inventory= 650000 - 540000                          = ₹110000