calculating new stock value

valentino46valentino46 Well-KnownRegistered Posts: 124
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??

Comments

  • AndypandyAndypandy Experienced Mentor Registered Posts: 526
    Yep!
  • AK002AK002 Font Of All Knowledge Registered Posts: 2,492
    Yes :).
  • valentino46valentino46 Well-Known Registered Posts: 124
    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
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