How do you calculate closing stock? Which important steps do
you take while valuation of closing stock.
Answers were Sorted based on User's Feedback
Answer / dilip
closing stock =opening stock + purchases + factory
expenses - sales
| Is This Answer Correct ? | 7 Yes | 6 No |
Answer / manish
closing stock = opening stock+ purchase+ direct expenses- sale
| Is This Answer Correct ? | 1 Yes | 0 No |
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ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
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