@Surender bhai thank you for your kind reply.
So is “purchase of stock in trade” a P&L item or Balance Sheet?
Meaning, if it is P&L item then all stocks of Rs 401 crs would be utilized (sold) during the quarter. And if it’s a Balance Sheet item then stocks worth Rs 401 would be outstanding and available to be sold at the end of quarter.
So is stock of Rs 401 crs already sold? or is it lying in stores waiting to be sold?
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