Cost of goods sold
This query is : Resolved
02 November 2011
june 2006:
opening stock 408000
credit sales 1500000
cash sales 200000
total sales 1700000
july 2006:
opening stock 434400
credit sales 1600000
cash sales 210000
total sales 1810000
aug 2006:
opening stock 460800
credit sales 1700000
cash sales 220000
total sales 1920000
selling price is 125% of the purchase price.
(1)The cost of goods sold for the month of june, 2006 is ???
(2) stock purchased in july,2006 is ???
opening stock 408000
credit sales 1500000
cash sales 200000
total sales 1700000
july 2006:
opening stock 434400
credit sales 1600000
cash sales 210000
total sales 1810000
aug 2006:
opening stock 460800
credit sales 1700000
cash sales 220000
total sales 1920000
selling price is 125% of the purchase price.
(1)The cost of goods sold for the month of june, 2006 is ???
(2) stock purchased in july,2006 is ???
CA RICHA BADALIA
(Expert)
02 November 2011
COGS=Opening stock+purchase-closing stock
=408000+(1700000/125*100+26400)-434400
=1360000
=408000+(1700000/125*100+26400)-434400
=1360000
Message likes :
1 times
02 November 2011
cost of goods sold for the month of june 2006 and stock purchased in july 2006???
CA RICHA BADALIA
(Expert)
02 November 2011
purchase=26400+1810000/125*100
=1474400
=1474400
CA PARAS BAFNA
(Expert)
05 November 2011
Cost of Goods sold for June can be directly computed from Sales only.
1700000*100/125=1360000
1700000*100/125=1360000
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