calculating new stock value

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valentino46
valentino46 Registered Posts: 124 Dedicated contributor 🦉
in AAT Level 3 (Level 6 in Scotland)
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??

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  • Andypandy
    Andypandy Registered Posts: 524 Epic contributor 🐘
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    Yep!
  • AK002
    AK002 Registered Posts: 2,442 Beyond epic contributor 🧙‍♂️
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    Yes :).
  • valentino46
    valentino46 Registered Posts: 124 Dedicated contributor 🦉
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    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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