Tally prime Inventory Assignment with Questions

 

Assessment 2 - Inventory Management

 

Business Name: Aman’s Hardware Hub

Owner: Aman Gupta
Start Date: 1-4-2025
Location: Shop No. 12, Sector-9 Market, Gurugram, Haryana

 

Aman runs a local hardware store selling tools, paints, electrical fittings, etc. He faces multiple challenges in inventory management. He often:

 

•       Finds it difficult to keep track of stock movement manually.

•       Struggles to maintain proper reorder levels and often runs out of fast-moving items.

•       Gets confused with items stored in different packaging (pieces, boxes, cartons).

•       Wants to know which items generate more profit and which are slow-moving.

•       Faces losses due to expired stock or damaged goods in godown.

 

Unit of Measurement with Opening Balance

•       Aman Gupta Use to manually mange the different units of conversion happening and always come to wrong calculations. Below are the Units involved in her business.

•       Note: Do not enable GST while doing the assessment and read carefully while passing the transactions.

 

 

Item	Unit of Measurement (Primary)	Opening Stock	Remarks
Wall Paint	Ltr	50 Litres @80/Ltr	Simple Unit
Electric Wire	Roll	30 Rolls @550/Roll	Each roll = 90 meters (Alternate Unit)
Screwdriver Sets	Set	40 Sets@300/Set	1 Set = 6 pieces (Alternate Unit)
Bulb Packs	Case	25 Boxes@850/Box	1 Case=10Boxes=10Pcs (Compound Unit)

 

Transactions

•       Aman Gupta started to feed data in Tally Prime suggested by his CA Mr Vikrant Sinha.

 

 

Purchase Transactions

On 5-4-2025, purchased following material from ABC Supplier Ltd.

 

Item	Quantity	Rate	Total Value
Wall Paint	10 Ltr	₹120/Ltr	₹1200
Wire Rolls	20 rolls	₹8/Mtr	₹57600
Bulb Boxes	5 cases	₹950/Box	₹47500

 

Sales Transactions

On 10-4-2025, Sold following material from Alankar traders.

 

Item	Quantity	Rate	Total Value
Wall Paint	5 Ltr	₹150/Ltr	₹750
Wire Rolls	10 rolls	₹800/Roll	₹8000
Screwdriver Sets	10 sets	₹65/Pcs	₹3900

 

 Questions: -

 

1. What is opening balance of stock available as on 4th April 2025?

a) 53750

b) 35750

c) 53000

d) 37750

 

2. What is the Closing Balance of Stock as on 10-4-2025?

a) 150034.11

b) 107381.11

c) 150044.11

d) 150022.11

 

3. What is the Net Profit as on 10 April 2025?

a) 3181.11

b) 2640.11

c) 2634.11

d) 2644.11

 

4) What is the percentage of Profit for Wire Roll (Stock-wise Profit)?

      a) 22.75%

      b) 18.75%

      c) 61.75%

      d) 23.08%