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