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Querist : Anonymous

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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
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shakuntala chhangani

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shakuntala chhangani (Expert)
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
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
19 April 2010 I totally agree with S.M. Chhagani



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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
26 April 2010 agree with S.M. Chhagani

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