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Determination of purchase value sold

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 August 2012 respected sir opningstockfor fy 2011-12=500000
purchases =1000000(inc 5%vat)
total ----------
=1500000
my sales during fy 2011-12 is 1400000(inclusive 5%vat).and i got gross profit at 10% for fy 2011-12

please caliculate purchase value put to sale.during fy2011-12.

note- vat included both in purchases and sale.
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Vineet

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Vineet (Expert)
27 August 2012 Purchase value put to sale is 1400000*100/110.
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