But COGS = Opg Stock + Production or Purchased Stock - Clsg Stock ?
CA. Amit Prajapati
(Chartered Accountant)
(118 Points)
Replied 12 June 2012
But COGS = Opg Stock + Production or Purchased Stock - Clsg Stock ?
MOHD ANZAR ALI
(EMPLOYEE)
(78 Points)
Replied 12 June 2012
since COGS = 100000
WHERE SALE = COGS+ PROFIT
THEN TOTAL SALE AVAILABLE =100000+25000
HENCE AVAILABE FOR SALE = 125000
ACTUAL SALE 80000
THEN CLOSING STOCK = 125000-80000 = 45000
further it may treat closing stock on cost value
45000-9000 = 36000
take 20% on sale are equal 25% on cost.
Sheena Maheshwari
(ARTICLESHIP)
(240 Points)
Replied 12 June 2012
hemchand
it must be cost of goods available for sale=100000
and not COGS plz check the question
and if it is so use ali's answer
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)