In the Last Purchase Cost costing method, the closing value of the stock item is calculated based on the rate of the last purchase
Consider an example below:
|
Date |
VCh Type |
Inwards |
Outwards |
||||
|
|
|
Quantity |
Rate |
Value |
Quantity |
Rate |
Value |
|
01/04/17 |
Purchase |
10.00nos |
100.00 |
1000.00 |
|
|
|
|
02/04/17 |
Purchase |
12.00nos |
150.00 |
1800.00 |
|
|
|
|
03/04/17 |
Purchase |
10.00nos |
200.00 |
2000.00 |
|
|
|
|
04/04/17 |
Purchase |
25.00nos |
225.00 |
5625.00 |
|
|
|
|
05/04/17 |
Sales |
|
|
|
10.00nos |
300.00 |
3000.00 |
|
06/04/17 |
Sales |
|
|
|
15.00nos |
400.00 |
6000.00 |
|
|
|
59 |
183.47 |
10825.00 |
25.00nos |
360.00 |
9000.00 |
When these entries are passed in Tally.ERP 9, the stock voucher report will appear as shown below:
As on 1st April 2017 = closing rate will be taken Rs. 100/-.
As on 4th April 2017, a purchase is made for 25 numbers at Rs.225/-, hence the closing rate will be taken as Rs.225.
♦ Note : In the absence of a purchase transaction, the closing value of the stock item will be calculated as the average rate of all inward transactions such as stock journal, material in, material out (with destination godown details), Debit note and Rejections out.
♦ T he closing value of stock item is calculated irrespective of godowns and batches.