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Cost of goods sold

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(Querist)
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 ???

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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
02 November 2011 COGS=Opening stock+purchase-closing stock
=408000+(1700000/125*100+26400)-434400
=1360000
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laji

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laji (Querist)
02 November 2011 cost of goods sold for the month of june 2006 and stock purchased in july 2006???
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laji

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laji (Querist)
02 November 2011 pls quck replyed....
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
02 November 2011 purchase=26400+1810000/125*100
=1474400
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laji

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laji (Querist)
02 November 2011 thank you....so much mam
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 November 2011 Cost of Goods sold for June can be directly computed from Sales only.

1700000*100/125=1360000
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