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PLEASE EXPLAIN As 2 valuation of inventories

Page no : 2

Yasaswi Gomes new (Finance ) (4492 Points)
Replied 23 August 2022

Cogs= (purchases as per the purchase date + opening inventory  - closing stock) 

Profit or loss = sales - cogs - general overheads


Yasaswi Gomes new (Finance ) (4492 Points)
Replied 23 August 2022

Post a screenshot because I'm confused and my mobile is allowing me to see the whole screen 


MPR Sanjay Kumar (3100 Points)
Replied 23 August 2022

Sure sir 👍 how to post here??
1 Like

Yasaswi Gomes new (Finance ) (4492 Points)
Replied 23 August 2022

Sorry if there is no attach link. But i have modified the recent formula and i hope you can make it out. 


Yasaswi Gomes new (Finance ) (4492 Points)
Replied 23 August 2022

Check out with others if there is a replacement cost issue here while calculating nrv. If not things are very easy.



prasad Nilugal ( GST Practitioner & Accounts )   (14546 Points)
Replied 24 August 2022

You have posted purchase details as 10000/- ltrs on 30/6/21.
1 Like

MPR Sanjay Kumar (3100 Points)
Replied 24 August 2022

@ sorry sir ,I made mistake

prasad Nilugal ( GST Practitioner & Accounts )   (14546 Points)
Replied 24 August 2022

Ok , It's Total 20000 ltrs ( 10000 opening balances and purchase 10000 ltr , and as per FIFO method ( First in First out) , we have sold 7000 ltr from Opening balance 10000 ltr .
2 Like

MPR Sanjay Kumar (3100 Points)
Replied 24 August 2022

Dear sir ,my humble request could you please again give me a clarity workings calculation

prasad Nilugal ( GST Practitioner & Accounts )   (14546 Points)
Replied 24 August 2022

Dear Mr Sanjay Kumar
I am going to repeat same reply , So please again refer my reply No 1,2,3 and 4 .


MPR Sanjay Kumar (3100 Points)
Replied 24 August 2022

@ sure sir ,thanks for your response


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