calculating new stock value

valentino46

if i am given a closing stock figure for the end of the year (16221.35)
and then asked to calculate new stock figures after the selling price has been reduced ,do i recalculate the new selling price by multiplying the quantity held by selling price and then the same by cost and working out lower of cost or net realiseable value??

Andypandy

Yep!

AK002

Yes .

valentino46

thanks guys,

i seriously went the long way round calculating the new stock figure after talking to my tutor! haha

i jst needed to take the cost price and work out the money differnce between the cost price and new price to see which was lower. I didnt have to touch the original selling price. tricky little number it was not after all!!

thanks

rob