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Accountancy

In this question closing stock is given in trial balance and purchases is not given in question. How to get them?

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siva chaitanya

siva chaitanya

CA Final

8K+

23-Jul-21 16:03

290

Answers (7)

COGS is given


CA Suraj Lakhotia

CA Suraj Lakhotia

Admin

23-Jul-21 16:10

Purchases=sales+closing


Kumar G

Kumar G

CA Final

12K+

23-Jul-21 16:14

CA Suraj Lakhotia Admin

COGS is given

Sir cogs= opening stock + purchases- closing stock Opening stock is not given sir


Thread Starter

siva chaitanya

siva chaitanya

CA Final

8K+

23-Jul-21 16:16

Then how we can do


Thread Starter

siva chaitanya

siva chaitanya

CA Final

8K+

23-Jul-21 16:17

We should ignore opening stock sir?


Thread Starter

siva chaitanya

siva chaitanya

CA Final

8K+

23-Jul-21 16:17

Thread Starter

siva chaitanya

We should ignore opening stock sir?

Either take cogs debit it to trading account and ignore closing stock or else add cogs and closing stock and debit to trading as TO Opening stock and purchases and credit trading by closing stock


Harshita Kedia

Harshita Kedia

CA Inter

4K+

23-Jul-21 17:54

Thread Starter

siva chaitanya

Then how we can do

Just write COGS on debit side of Trading & P&L A/c. Take closing stock directly on asset side of balance sheet


Sahibdeep Singh

Sahibdeep Singh

CA Inter

14K+

24-Jul-21 08:34

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