PCR Section 1 - Operating Statement and Stocks!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:27AM in AAT student discussion
Did anyone else put opening and closing stock in their operating statement in section 1 PCR?

I seem to have been the only one from my class who did, and i am sure you should have, but i don't really know why.

If you did, can you remember how you valued your opening and closing stock?

I'd really like to hear from people.

Gillianne

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    i did not, i looked later at previous past papers and they do include opening and closing stock levels, so i think your right
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    I didn't but think I should have.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    I did, but most of my class didnt. But what how did you work out your cost of of Opening and Closing stock? Did you use the Sales price? I went the long way round and divided my cost of production by my sales to get a unit price and then timed that by my opening and closing stock. Everyone i mentioned this to afterwards, looked at me blankly.. i think i made the question too hard for myself. Past papers had given you a previous question to work this out and then asked you to do the Operating Statement. I am glad someone else had a similar idea though.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    sugar lumps never did stocks or idle time, section one must be iffy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    I think you are right, when i was doing it i thought, i am sure it shouldn't have been as complicated as this. If they had wanted us to do opening and closing stock valuation, they would have said how to value the opening stock at least. Or say something about it.

    I am sure they didn't want to do stocks, but i read and re read the question, and i can't find any justification in not doing it

    Has anyone seen a sample paper that in section 1 has an absorption operating statement, with opening and closing stocks. I can't fine one!!

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    No, can't find one exactly the same
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:PCR Section 1 - Operating Statement and Stocks!!!

    i had the same stock problem wasnt sure if to put them in but couldnt find a value for the opening stocks so i took out the closing stock ??

    no idea i just hope i pass

    good luck all whats done is done now

    enjoy some idle time yourselves

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