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Cost Accounting
Accountancy
Calculation of cost of material purchased
Answers (10)
Karthick A
Purchase - Trade Discount +GST +Freight +Inspection Charges +Unloading Charges
At which amount the GST 18% has been calculated and even unloading charges
Thread Starter
Hida ShariefAt which amount the GST 18% has been calculated and even unloading charges
Refer Varshaa Sister's answer. That is explained very perfectly.
This Question can be answered in two Assumptions. 1: if gst credit is Available 2: if gst credit is not available ( The question is silent about gst credits, so it is better to assume credit is Available, any way giving answer in two situations.) ( Normal loss doesn't affect total purchase cost, it is used to calculate purchase cost per unit)
Thread Starter
Hida ShariefThank you
No mention. Kindly note that I have solved it assuming that "GST Credit is not available". You can do it the other way also. But, put a note and mention the assumption in your answer.