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In this question closing stock is given in trial balance and purchases is not given in question. How to get them?
Answers (7)
CA Suraj Lakhotia Admin
COGS is given
Sir cogs= opening stock + purchases- closing stock Opening stock is not given sir
Thread Starter
siva chaitanyaWe 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
Thread Starter
siva chaitanyaThen 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