Unit 5 Simulation - Closing Stock Valuation
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shaun
Registered Posts: 1 New contributor 🐸
Hi all,
I was wondering if someone could help me. I sat the 1st part of my Unit 5 simulation last nite and was stuck on this question. The story is that there was a fire at the office and all documentation of the closing stock were destroyed, so I have to calculate an estimate. Can anyone tell me how to calculate the estimate?
Many Thanks
Shaun
I was wondering if someone could help me. I sat the 1st part of my Unit 5 simulation last nite and was stuck on this question. The story is that there was a fire at the office and all documentation of the closing stock were destroyed, so I have to calculate an estimate. Can anyone tell me how to calculate the estimate?
Many Thanks
Shaun
0
Comments
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Are you asking us to do the simulation for you??:huh:0
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This is incomplete records. Have you covered this in class?
You may have to use a cost structure and the COS formula,
O/Stock
+ Purchases
- C/Stock
= COS
Cost Structure: If Margin is used, Sales = 100%. If mark up used COS = 100%
Were you doing a mock?0
