How to calculate closing stock?
I have opening stock of 72 lacs (average costing without
tax) and purchase of 49 lacs (with tax) and sales of
101 lacs (without tax). What is my closing stock then????
Should i add tax in sales?
Where all should tax be included and where all should tax
NOT be included?
Right now i calculated => 72(no tax)+49(with tax)-101(no
tax) = 20 lacs. IS this correct?
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