Lets consider LAPU as Item L
Hence you received 104420 Pieces Item L at Rs 100000 from Supplier
Purchase price per item =100000/104420=0.95767 (approx)
You pass entry
Purchase A/c Dr 100000
To Supplier 100000
(104420 units *0.95767/units =100000)
Supplier A/c Dr 100000
To Bank 100000
(Entry for NEFT to Supplier)
Suppose you sell 1030 units Item L to Retail Point for Rs 1000
Selling Price of Item L=1000/1030=0.970874
You pass entry
Party A/c Dr 1000
To Bank 1000
(1030 units *0.970874/units =1000)
(Your profit per LPU is 0.97084-0.95767=0.01317
Profit on 1030 LPU is 1030*0.01317=13.56 Rs
Hence you can say on 1000 Rs sales,you get 13.56 profit)
Written on Feb. 16, 2017, 5 p.m.