how to calculate closing stock

faisalkhan Registered Posts: 1

March 2016 in AAT Level 4 (Level 8 in Scotland)

opening stock 36273.80
cash purchase 322455.10
cash sales 385655.40

how to calculate closing stock

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Comments

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  CeeJaySix Registered Posts: 630

  March 2016

  Presumably you are given a mark-up or margin? Otherwise unless you're selling at cost it's not possible...

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  melinda_m Registered Posts: 3

  March 2016

  opening stock (what you had already) + purchase (now you have that too) - sales (these are gone) = closing stock

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  CeeJaySix Registered Posts: 630

  April 2016

  Not true unless you're selling at cost...sales will have a mark-up applied, so simply subtracting the sales value will not get you to stock value...

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