A businessman purchased goods for Rs. 25,00,000 and sold 80% of such goods during the accounting year ended 31st March, 2019. The market value of the remaining goods was Rs. 4,00,000. He valued the...

A businessman purchased goods for Rs. 25,00,000 and sold 80% of such goods during the accounting year ended 31st March, 2019. The market value of the remaining goods was Rs. 4,00,000. He valued the closing stock at market value.

He violated the concept of