Branch A/c
This query is : Resolved
CA Vijeta Verma
(Querist)
27 August 2010
is it correct to say that if nothing is mentioned in the question about stock that whether is it at IP(Invoice Price) or CP(COST PRICE) then we always take it at CP always?
but if opening stock is given at IP then what shall be assumed for closing stock if nothing is mentioned for closing stock... or vice versa??
but if opening stock is given at IP then what shall be assumed for closing stock if nothing is mentioned for closing stock... or vice versa??
CMA Ramesh Krishnan
(Expert)
27 August 2010
If nothing given then you can treat always cost price only . & always treat both stock in same value either IP or CP which given in problem & give notes to examiner for your treatment
27 August 2010
AGREED, IN CASE OF BRANCH T/F , STOCK IS ALWAYS T/F ON COST PRICE.
IT IS BETTER TO GIVE NOTE REGARDING THIS.
IT IS BETTER TO GIVE NOTE REGARDING THIS.
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