Did you have any cost of sales?
No |
|
---|---|
Yes |
Read on. |
You need to know
Goods taken for your own use should not be accounted for as stock on hand at 30 June 2007. Include at I and J Other business income in the Income section of item P8 on your schedule the value of:
- livestock killed for rations
- livestock exchanged for other goods or services, and
- goods taken for your own use.
Use worksheet 3 to work out your cost of sales.
Row |
Calculation element |
Primary Production |
Non-primary production |
---|---|---|---|
(a) |
Stock at 1 July 2006 |
$ |
$ |
(b) |
Purchases at cost |
$ |
$ |
(c) |
Freight inwards |
$ |
$ |
(d) |
Other - for example, labour and services |
$ |
$ |
(e) |
Add (a), (b) and (d). |
$ |
$ |
(f) |
Stock at 30 June 2007 |
$ |
$ |
- |
Your cost of sales |
$ |
$ |
For further information on stock on hand at 1 July 2006, read Opening stock. For information on stock on hand at 30 June 2007, read Closing stock.
Completing this item
Step 1 Write your total primary production cost of sales at Cost of sales in the Primary production column, item P8 on page 3 of your schedule. Do not show cents.
Step 2 If the cost of sales in the Primary production column - after taking away (f) from (e) - is a negative amount, print L in the box at the right of this amount.
Step 3 Write your total non-primary production cost of sales at Cost of sales in the Non-primary production column. Do not show cents.
Step 4 If the cost of sales in the Non-primary production column - after taking (f) away from (e) - is a negative amount, print L in the box at the right of this amount.
Step 5 Add up your primary production and non-primary production cost of sales and write the total at Cost of sales in the Totals column.
Step 6 If your total cost of sales is a negative amount, print L in the box at the right of this amount.