x of kolkata sends out goods to y of mumbai at cost +25% . 1/2 of the goods received by y is sold at 176000 at 10% above i.p invoice value of goods is ? ans 320000
Menu
Doubt
Replies (2)
1/2 of goods sold by Mr. Y= Rs. 176000
Profit Margin= 10%
thus, I.P. for 1/2 goods= 176000/110*100= Rs. 160,000
Therefore total I.P= 160,000*2= Rs.320000.
AS per your query selling price for Mr. Y includes the Profit Margin of 10%. So reduce that profit margin to obtain the I.P. You will obtain the I.P for half goods sold. Now double amount obtained to get overall I.P.
Recent Topic
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
Related Topics
CAclubindia
