Q.
1

Assertion (A): Increasing the value of closing inventory increases profit

Reason (R): Increasing the value of closing inventory reduces cost of goods sold.

In the context of the above two, statements, which of the following is correct?

 

  • A

    Both (A) and (R) are correct 

  • B

    Only (A) is correct

     

  • C

    Only (R) is correct 

  • D

    Both (A) and (R) are wrong