Hi,
just a quick question. i was involved in a stocktake of a major grocery retailer when i worked part time to supplement my studies in college. my question is this.
when we did the stocktake and counted for example, petfood. i would count the tins of petfood and multiply this number(say 12) by the price on the shelf(say €1.50) giving a total of €18.00. this would then be written on a stocktake receipt and this receipt then got sent to the cash office and aggregated with all the other slips giving a total figure for the stocktake. if the price of €1.50 was inclusive of, say 50% sales tax(VAT) then the VAT of 50cent for each item is included in the stocktake meaning €6.00 is now part of the final stocktake amount. if this happens to two or three items in the shop, all with different sales tax(VAT) amounts then it makes it impossible to split the sales tax(VAT) from the final stock valuation and therefore the final stocktake figure is inaccurate???
am i right in saying this or is there something i am missing.
thanks.
just a quick question. i was involved in a stocktake of a major grocery retailer when i worked part time to supplement my studies in college. my question is this.
when we did the stocktake and counted for example, petfood. i would count the tins of petfood and multiply this number(say 12) by the price on the shelf(say €1.50) giving a total of €18.00. this would then be written on a stocktake receipt and this receipt then got sent to the cash office and aggregated with all the other slips giving a total figure for the stocktake. if the price of €1.50 was inclusive of, say 50% sales tax(VAT) then the VAT of 50cent for each item is included in the stocktake meaning €6.00 is now part of the final stocktake amount. if this happens to two or three items in the shop, all with different sales tax(VAT) amounts then it makes it impossible to split the sales tax(VAT) from the final stock valuation and therefore the final stocktake figure is inaccurate???
am i right in saying this or is there something i am missing.
thanks.