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EMP system is modulated according to the Perpetual Inventory system. Therefore, the Cost of Goods Sold (COGS) is not reflected in the Profit and Loss Statement, instead the Inventory Variance Cost will be reflected. Therefore, the COGS is formulated in the Stock Flow Report. |
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- The following image indicates how the calculation for COGS is performed within the Stock Flow Report and the amount will be reflected in the Profit and Loss as in Inventory VarianceCost.
- The closing stock calculated in Stock Flow Report will be reflected in the Balance Sheet.
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