We are a manufacturing concern, and required our Income Statement to be as follows: - Sales 75,000 Less Sales Returns (5,000) ----------- Net Sales 70,000 Less: Cost of Goods Sold Raw Material Opening Stock 3,000 Add: Raw Material Purchases 27,000 Raw material Available for Use 30,000 Raw Material Ending Balance (4,000) ------------- Raw Mat consumer 26,000 Add: Direct Labour 18,000 Indirect Expenses 29,000 PRIME COST 73,000 Add Finished Goods Opening Balance 3,000 Finished Goods Available for Sale 70,00 Less: Finsihed Goods Ending Balance (4,000) ------------- Cost of Goods sold during the period (66,000) Net PRofit 4,000 Sir / Madam please inform whether is there a way to configure P&L account in such a way that I have these figures readily available at any give time ? Is it possible that I can configure the P & L account this way. Awaiting your reply Thanks and best wishes
