Cogs= (purchases as per the purchase date + opening inventory - closing stock)
Profit or loss = sales - cogs - general overheads
PLEASE EXPLAIN As 2 valuation of inventories
Page no : 2
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 23 August 2022
Post a screenshot because I'm confused and my mobile is allowing me to see the whole screen
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 23 August 2022
Sorry if there is no attach link. But i have modified the recent formula and i hope you can make it out.
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 23 August 2022
Check out with others if there is a replacement cost issue here while calculating nrv. If not things are very easy.
prasad Nilugal
( GST Practitioner & Accounts )
(14903 Points)
Replied 24 August 2022
You have posted purchase details as 10000/- ltrs on 30/6/21.
prasad Nilugal
( GST Practitioner & Accounts )
(14903 Points)
Replied 24 August 2022
Ok , It's Total 20000 ltrs ( 10000 opening balances and purchase 10000 ltr , and as per FIFO method ( First in First out) , we have sold 7000 ltr from Opening balance 10000 ltr .
MPR Sanjay Kumar
(3145 Points)
Replied 24 August 2022
Dear sir ,my humble request could you please again give me a clarity workings calculation
prasad Nilugal
( GST Practitioner & Accounts )
(14903 Points)
Replied 24 August 2022
Dear Mr Sanjay Kumar
I am going to repeat same reply , So please again refer my reply No 1,2,3 and 4 .
I am going to repeat same reply , So please again refer my reply No 1,2,3 and 4 .
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