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May 30, 2011 at 09:28 AM

COGS in Trading Business

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Dear All,

In Trading Business,we just buy and sell the products.

When we sell the FG stock, entry will be COGS a/c Dr to FG Stock A/c ,at the time of PGI and at the time of Billing, the entry will be Customer A/c Dr to Sales A/c ,then finally where and how COGS A/c will be set off or adjusted.

Can any body throw some light on this?

Regards

Su