sarah glass exam 1 unit 5

meibaker
meibaker Registered Posts: 481 Dedicated contributor 🦉
in AAT Level 3 (Level 6 in Scotland)
everyone who have done the sarah glass exam unit 5?
i am having problem with my closing stock. mine is -1623 very strange is it possible? thanks

Comments

  • emmag
    emmag Registered Posts: 35 Regular contributor ⭐
    I'm also having problems with closing stock.

    I have total sales as £1,021,500, purchases as £807,300 and I'm using the stock figure of £43,160 as opening stock. My closing stock is coming out as
    (171,040). Think I must be doing something very wrong :confused1:
  • emmag
    emmag Registered Posts: 35 Regular contributor ⭐
    Please ignore that. I am so stupid sometimes :blushing:

    I've now got closing stock at £33,260. Could someone tell me if that is correct?
  • jewels.p
    jewels.p Registered Posts: 1,758 Beyond epic contributor 🧙‍♂️
    emmag wrote: »
    Please ignore that. I am so stupid sometimes :blushing:

    I've now got closing stock at £33,260. Could someone tell me if that is correct?


    Yes £33260 is the correct figure for closing stock. I just had this paper marked and got it wrong!:001_wub: I had £33,100 cause I hadnt decreased the float by £200 in earlier task!

    Julie:001_smile:
  • Pinkjo
    Pinkjo Registered Posts: 88 Regular contributor ⭐
    If your closing stock is £33,260 your gross profit will be £204,300. Do you not have a closing stock figure?
  • jewels.p
    jewels.p Registered Posts: 1,758 Beyond epic contributor 🧙‍♂️
    Pinkjo wrote: »
    If your closing stock is £33,260 your gross profit will be £204,300. Do you not have a closing stock figure?


    Yes Gross Profit figure is £204300

    Julie:001_smile:
  • meibaker
    meibaker Registered Posts: 481 Dedicated contributor 🦉
    thanks for all the reply, it really helped.

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