Closing stock
This query is : Resolved
22 July 2012
PLEASE EXPLAIN DIFFERENT FORMULA TO CALCULATE CLOSING STOCK FOR BUINESS EG-OP STOCK 512703 SALE 8889273 PURCHASE 8228149 WHAT WILL BE CLOSING STOCK
22 July 2012
if u had one apple at the start of the day
during the day you purchased 2 apples
and during lunch you gave one apple to your friend.
How many apples do you have at the end of the day assuming you did not eat any apple.
Whatever logic you apply to above example, same is applciable to your question.
Only difference is, if the above numbers in your query are amounts, then first bring the sales value at cost by removing the profit margin and then perform the same logic.
during the day you purchased 2 apples
and during lunch you gave one apple to your friend.
How many apples do you have at the end of the day assuming you did not eat any apple.
Whatever logic you apply to above example, same is applciable to your question.
Only difference is, if the above numbers in your query are amounts, then first bring the sales value at cost by removing the profit margin and then perform the same logic.
Message likes :
1 times
22 July 2012
Different Methods are as follows -
1) FIFO
2) LIFO
3) HIFO and many more,but i think that will not serve your purpose.
The example given by you can be solved as follows -
Opening stock + Purchases - Closing stock = Sales
1) FIFO
2) LIFO
3) HIFO and many more,but i think that will not serve your purpose.
The example given by you can be solved as follows -
Opening stock + Purchases - Closing stock = Sales
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
