Inventories
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2010
Q.Conider the following for Q co. for the year 2005-2006
Cosg Rs.100000
Total sales Rs.80000
Op. Stock Rs.20000
Gross Profit 25%.
Closing stockfor the year2005-2006 ?
Ans Rs.40000
How to find closing stock
Girish
Cosg Rs.100000
Total sales Rs.80000
Op. Stock Rs.20000
Gross Profit 25%.
Closing stockfor the year2005-2006 ?
Ans Rs.40000
How to find closing stock
Girish
17 April 2010
My dear, ur question is wrong. Instead of COGS, it is cost of goods available for sale Rs.1,00,000.
cogs = sales - GP = 80,000 - 25% (80,000)
= 80,000-20,000 = 60,000
now, cl.stock = cog available for sale - cogs
= 1,00,000 - 60,000
= Rs. 40,000
if u hv any doubt, revert back to me.
Regards, CA Shakuntala Chhangani
cogs = sales - GP = 80,000 - 25% (80,000)
= 80,000-20,000 = 60,000
now, cl.stock = cog available for sale - cogs
= 1,00,000 - 60,000
= Rs. 40,000
if u hv any doubt, revert back to me.
Regards, CA Shakuntala Chhangani
19 April 2010
I totally agree with S.M. Chhagani
26 April 2010
agree with S.M. Chhagani
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