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Advise BuildProducts Pty Ltd as to the trading stock implications for the current tax year, on the assumption that it wants to minimise its income tax payable for the tax year. BuildProducts Pty Ltd is a small seller of building supplies, and sells mostly doors and window frames. The following transactions are relevant for the current tax year: mation *
Purchases of doors: $400,000
Purchases of window frames: $500,000
Sales of doors and window frames: $2,500,000
Stock Valuation:

Closing stock value for the end of the year prior to the current tax year: $1,000,000
Trading stock values at the end of the current tax year:
Doors:
Cost: $500,000
Replacement value: $600,000
Market selling value: $900,000
Window Frames:
Cost: $600,000
Replacement value: $400,000
Market selling value: $800,000

Sagot :

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