- Messages
- 23
- Reaction score
- 12
- Points
- 13
I am not sure but what we do is find purchases from cost of sales simply by using the COGS, Op. Inv and Cl. Inv.; there are chances we could be doing this wrong due to the possibility of return outwards and carriage inwards. We don't have the trial balance so we could double check. Hence, I guess if they haven't given us the Puraches fig, we use the cost of sales though i'm not sure.Do not ever do that because marking scheme is sometimes incorrect as they are not final , they are just draft copy subject to corrections . Secondly do not ever deviate from the original formula both the question listed above have the stocks hence we can easily work out purchases
SECONDLY nov 12 question regarding carrying value is expected so prepare for it before going to your center