Purchase value not getting tallied with COGS account and Sales Value
Dear all !
In a trading company , stock value is not tallying with Purchase - Purchase return - COGS value.
Item Valuation method is Moving average.
Purchases during 10-11 -
Less : Purchase Return----
Less:Cost of Goods Sold----
Closing Stock 31.03.11----
Stock showed in SAP----
There is no opening balance hence auditor ask query for the difference and please explain how the difference come.
Kindly let us know idea on this.