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Was doing a practice question test your understanding 2 chapter 8 Kaplan asked to prepare statement of profit and loss I followed the given performa in the book but in the answer in cost of sales they only included opening inventory full production cost which was not in performa and closing inventory
In cost of sale in performa they mentioned cost of sale as
Variable cost of production
Fixed overhead absorbed
Less closing inventory
I do not have the Kaplan text (only the BPP Revision Kit).
Although the costs of sales is calculated as you describe as being printed in the book, you cannot ever be actually asked to prepare a statement of profit and loss in the exam.
The statements are all explained in my free lectures on absorption and marginal costing. If you are watching the lectures then you do not really need a text book – the lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
The essential book is the Revision Kit (Exam Kit), because it is full of exam standard questions for practice, and practice is vital to passing the exam.