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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
