Calculating closing inventory
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Cat37
Registered Posts: 6
Hi,
Please could someone explain how the following is worked out?
Cost of good sold = £47925
Purchases = £46,795
Calculate the closing inventory ? Answer is £4720 but struggling to work out why this is the answer.
Thanks in advance
Please could someone explain how the following is worked out?
Cost of good sold = £47925
Purchases = £46,795
Calculate the closing inventory ? Answer is £4720 but struggling to work out why this is the answer.
Thanks in advance
0
Comments
-
You should also have an opening stock figure...??
Opening stock plus purchases less CoGS = closing stock.0 -
I think this is the same question that was discussed here http://forums.aat.org.uk/discussion/440653/margin-and-markups-confused#latest
Hope this helps!0
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