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Proprietorship concern

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(Querist)
27 December 2010 Hi,

CAn anyone tell me what should be the closing stock percentage for the propertorship concern. CAn I know any book by author where we can know hoe to adjust the closing stock percentage for showing the required profit.

Thank u
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CA Chandresh Agrawal

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CA Chandresh Agrawal (Expert)
27 December 2010 In my view there is no specified percentage for closing stock for proprietor. It purely depends on nature of business in which you are engage. For eg. woolen industy have very low stock in march but high in november or december so it depends on business.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 December 2010 agree with agrawalji
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