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Hello
I am using Weighted Average Stock Valuation method for my manufacturing firm. I face following problem
I Purchased 100 Qty of Glass sheets @ Rs. 1000 Each and paid a Tax (VAT) @ 5%. Hence the total amount paid is Rs. 1,05,000.
Now if for my organisation VAT set off is not available, so can I consider a complete paid amount i.e Rs. 105000 as a stock valuation for 100 Qty. which results in Rs. 1050 as a unit prise?
Please Guide me.
I am using Weighted Average Stock Valuation method for my manufacturing firm. I face following problem
I Purchased 100 Qty of Glass sheets @ Rs. 1000 Each and paid a Tax (VAT) @ 5%. Hence the total amount paid is Rs. 1,05,000.
Now if for my organisation VAT set off is not available, so can I consider a complete paid amount i.e Rs. 105000 as a stock valuation for 100 Qty. which results in Rs. 1050 as a unit prise?
Please Guide me.