Inventories
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2010
Q.Conider the following for Q co. for the year 2005-2006
Cosg Rs.100000
Total sales Rs.80000
Op. Stock Rs.20000
Gross Profit 25%.
Closing stockfor the year2005-2006 ?
Ans Rs.40000
How to find closing stock
Girish
Cosg Rs.100000
Total sales Rs.80000
Op. Stock Rs.20000
Gross Profit 25%.
Closing stockfor the year2005-2006 ?
Ans Rs.40000
How to find closing stock
Girish
17 April 2010
My dear, ur question is wrong. Instead of COGS, it is cost of goods available for sale Rs.1,00,000.
cogs = sales - GP = 80,000 - 25% (80,000)
= 80,000-20,000 = 60,000
now, cl.stock = cog available for sale - cogs
= 1,00,000 - 60,000
= Rs. 40,000
if u hv any doubt, revert back to me.
Regards, CA Shakuntala Chhangani
cogs = sales - GP = 80,000 - 25% (80,000)
= 80,000-20,000 = 60,000
now, cl.stock = cog available for sale - cogs
= 1,00,000 - 60,000
= Rs. 40,000
if u hv any doubt, revert back to me.
Regards, CA Shakuntala Chhangani
19 April 2010
I totally agree with S.M. Chhagani
26 April 2010
agree with S.M. Chhagani
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
