CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 12 January 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 January 2021
Yes, the above formula is correct, include depreciation, and amortisation as well
ANAND
(ARTICLE TRAINEE)
(29 Points)
Replied 13 January 2021
shakeel
(GFM)
(38 Points)
Replied 13 January 2021
| Sales | 570,873 | |
| COGS: | ||
| Opening | 289,800 | |
| Purchases | 446,832 | |
| closing | 403,726 | |
| 332,906 | ||
| GP |
237,967 |
Yes, there was error. But I still feel it higher. The closing stock is inventory available at the year end valued at the rate as on that date.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 January 2021
It doesn’t matter! As far as cos is concerned= opening inventory+purchases - return+ amortisation/ depreciation & nrv of damaged goods and a lot more than I know. So what is your problem now, if you need a formula, I have every formula from online you know.
shakeel
(GFM)
(38 Points)
Replied 13 January 2021
@ yasaswi gomes: Why are you wasting your time? I did not ask you. In fact you could not identify error which Anand did. Do not respond to my query please.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 14 January 2021
Shakeel sry your correct. I will do what your saying and I have modified my previous answer
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