# Financial statements Pine Ltd

Options
Registered Posts: 130 Dedicated contributor 🦉
Just trying to go through this practice exam and failing at first hurdle! Does anyone know how to get that cost of sales amount of £25804. I can only come up with £29404. Where is the £3600 difference coming from?

• Registered Posts: 130 Dedicated contributor 🦉
Options
Oh don't worry, just got it :-)
• Registered Posts: 5 New contributor 🐸
Options
I am struggling the same to find £3600 diffrence. How did you find it ?
• Registered Posts: 585 Epic contributor 🐘
Options
beavis182 wrote: »
Just trying to go through this practice exam and failing at first hurdle! Does anyone know how to get that cost of sales amount of £25804. I can only come up with £29404. Where is the £3600 difference coming from?

I don't have the question paper infront of me so I cant confirm the figues

to work out cost of sale

Opening stock x

plus purchases x
less purchase returns -x x

plus carriage in x

less Closing stock - x

equals COST OF SALE X

see if the above proforma works for you?
• Registered Posts: 39 Regular contributor ⭐
Options
this is what i got from beavis,

The calculation is cost of sales is 60% of 5% (buildings) which is 3%. Use this 3% to work out the depreciation of the building cost.

(buildings is 81778 less 41778 = 40,000)

so 3% of 40,000 is 1200

Do the same with Plant and equipment. ie. 60% of 25% which is 15%.

15% of 16000 is 2400

1200 + 2400 = 3600

This figure goes in the calculation of gross profit.

I hope this helps your figures out. It took me a while to work it out, good luck
• Registered Posts: 5 New contributor 🐸
Options