Working Out Closing Stock
Brough
Registered Posts: 6 New contributor 🐸
Feeling like I'm being stupid or just stressing. Trying to figure out how to work out closing stock. Went through mark up and margin, brilliant, then stock losses, couldn't find anything else in the tutorial. Suddenly a light bulb came on, should actually try complete the questions I have struggled on in the past papers and it looks like its all based on the mark up etc. Can someone let me know if there is anything more to know regarding this? Cheers
0
Comments
-
Stock value is always the lower of cost or resale value, so the question should tell you what the cost was, if it's damaged what the resale value would be and therefore you can work it out.
They do sometimes tell you mark up and margin to enable you to work out the original selling price or occasionally to try to confuse you.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 323 NEW! Qualifications 2022
- 165 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 88 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership