HELLO FRIENDS, CAN ANYBODY TELL ME HOW TO CALCULATE THE CLOSING STOCK OF PETOL PUMP.
I HAVE THE NET REALISABLE VALUE ON THAT DATE.
BUT FOR COST WHICH METHOD I USE FIFO OR AVEARGE COST METHOD.
PLS. HELP ME.
HOW TO CALCULATE?
THANKS.
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
15 September 2012HELLO FRIENDS, CAN ANYBODY TELL ME HOW TO CALCULATE THE CLOSING STOCK OF PETOL PUMP.
I HAVE THE NET REALISABLE VALUE ON THAT DATE.
BUT FOR COST WHICH METHOD I USE FIFO OR AVEARGE COST METHOD.
PLS. HELP ME.
HOW TO CALCULATE?
THANKS.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 15 September 2012
when no specific method is mentioned by the owner, FIFO is default.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)