Does ordinary good purchased gors in less cost of sales in income stat

1.	Does ordinary good purchased gors in less cost of sales in income statement
Answer» TION:The deduction is necessary in order to achieve the matching principle: matching the PROPER amount of the COSTS of the goods sold with the SALES revenues of the accounting period. A decrease in the amount of inventory will appear on the income statement as an ADDITION to the cost of the purchases.

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

Does ordinary good purchased gors in less cost of sales in income statement

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