cost of goods sold & net realisable value

MPR sanjay Kumar (CA student) (216 Points)

14 February 2021

what is mean by net realizable value and cost of goods sold..

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prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 14 February 2021

1) Net realizable value is estimated selling price of goods , minus the cost of their sale .

2) Cost of Goods sold = Oping stock + purchase - closing stock .

MPR sanjay Kumar (CA student) (216 Points)
Replied 14 February 2021

Give an example for this two terms and case studies plse

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 15 February 2021

Cogs= https://www.mca.gov.in/SearchableActs/Schedule3.htm

Nrv= https://cleartax.in/s/as-2-inventories-valuation

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