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when cost of goods sold is given in trial balance and closing stock also given inside trial balance then can we find purchases sir?

siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:21

687

Answers (9)

What about opening stock ? Which illustration are you referring to

Sudha Reddy

CA Final

★ 20K+

23-Jul-21 09:34

Mam, they is no opening stock given in trail balance

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:48

Mam this is the question

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:50

No opening stock given mam

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:50

Mam, can you explain

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 10:00

Purchases = Cost of goods sold +(Closing stock - Opening Stock)

Sudha Reddy

CA Final

★ 20K+

23-Jul-21 10:23

Mam, but here opening stock is not given We should assume opening stock as zero

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 11:00

can u explain this point sir

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 11:38

Thread Starter

siva chaitanya

can u explain this point sir

Now, we can't separately find Purchases in that situation. All we can get to know is Opening Stock + Purchases amount. Then there could be any assumption, whether opening stock is zero or equal to closing stock etc.

Sahibdeep Singh

CA Inter

★ 14K+

24-Jul-21 08:28