36 For example, if the balance sheet is to be prepared as on 31st March, 2005 and the stock position has been given as on 15th April, 2005 the following adjustments will be required: Less purchases made between 1* April, 2005 to 15th April, 2005. (b) Add purchases returns between 1* April, 2005 to 15th April, 2005. (c) Add sales (at cost price) between 1" April, 2005 to 15th April, 2005. Less sales returns between 1st April, 2005 to 15th April, 2005. (d) Illustration: The financial year of Sultan S. & Co. ends on 31* December 2005. Stock taking continues upto 10th January, 2006. You are required to determine, the value of costing stock (at cost) as on 31 December, 2005 from the following information: (ii) (i) The closing stock (valued at cost) came to Rs. 50,000 on 10th January, 2006. Purchases made in the first 10 days of January 2006 amounted to Rs. 2000. (iii) Sales made from 1st January to 10th January in 2006 amounted to Rs. 8000. The firm makes a gross profit of 25% on sales