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  • Part D: Cost of sales

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Did you have any cost of sales?

    No

    Go to Part E.

    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 2004. Include the cost of goods taken for your own use at I and J Other business income in the INCOME section item P8 on your schedule.

    Use the following table to work out your cost of sales.

    Cost of sales

    Row

    Calculation elements

    Primary production

    Non-primary production

    a

    Stock at 1 July 2003

    $

    $

    b

    Purchases at cost

    $

    $

    c

    Freight inwards

    $

    $

    d

    Other – for example, labour and services

    $

    $

    e

    Add a, b, c and d

    $

    $

    f

    Stock at 30 June 2004

    $

    $

    -

    Your cost of sales
    Take away the amount at row f from the amount at row e

    $

    $

    For further information on stock on hand at 1 July 2003, read Part A Opening stock. For information on stock on hand at 30 June 2004, read Part C Closing stock.

    Completing this part

    Step 1

    Write your total primary production cost of sales at Cost of sales, Primary production column, item P8 on your schedule. Do not show cents.

    Step 2

    If the cost of sales in the 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 3

    Write your total non-primary production cost of sales at Cost of sales, Non-primary production column, item P8 on your schedule. 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 amount at Cost of sales, Totals column, item P8 on your schedule.

    Step 6

    If your total cost of sales is a negative amount, print L in the box at the right of this amount.
    Last modified: 18 Feb 2020QC 27547