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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Taxation interview questions  Taxation Interview Questions (1916)
 Accounting General interview questions  Accounting General Interview Questions (2844)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
How to calculate the closing stock value ?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
closing stock = opening stock + purchase of this period-
sales in this period = closing stock raw material value +
closing stock finishing material vlue.
 
Is This Answer Correct ?    130 Yes 41 No
Lalit
 
Answer
# 2
There are 3 methods are used for calculation
closing stock value

A) FIFO:- FIRST IN FIRST OUT (APPLIED IN OUR COMPANY)
B) LIFO:- LAST IN FIRST OUT
C) WEIGHTED AVG:- TOTAL CLOSING STOCK QTY MULTIPLY
WITH LAST PURCHASE RATE.
 
Is This Answer Correct ?    66 Yes 30 No
Ajay
 
 
 
Answer
# 3
# 1

closing stock = opening stock + purchase of this period-
sales in this period = closing stock raw material value +
closing stock finishing material vlue.

There are 3 methods are used for calculation
closing stock value

A) FIFO:- FIRST IN FIRST OUT (APPLIED IN OUR COMPANY)
B) LIFO:- LAST IN FIRST OUT
C) WEIGHTED AVG:- TOTAL CLOSING STOCK QTY MULTIPLY
WITH LAST PURCHASE RATE.
 
Is This Answer Correct ?    39 Yes 19 No
Srikanth Reddy
 
Answer
# 4
Opening Stock + purchase -sales = closing stock 
Is This Answer Correct ?    27 Yes 13 No
Faisal
 
Answer
# 5
Closing Stock = Opening Stock + Purchase +
Freight(inward)and related exp. to production - sales of the
period.

and closing stock should be take as per market value which
the lower cost.
 
Is This Answer Correct ?    26 Yes 13 No
Kondaiah
 
Answer
# 6
CLOSING STOCK=OPENING STOCK + PURCHASE + DIRECT EXPENSES + GROSS PROFIT - SALES 
Is This Answer Correct ?    23 Yes 10 No
Bibs
 
Answer
# 7
opening stock + purchase + direct expenses + gross profit -
sales
 
Is This Answer Correct ?    21 Yes 9 No
Lokes
 
Answer
# 8
closing stock=opening stock + purchases+ dirct exp - cogs 
Is This Answer Correct ?    21 Yes 16 No
Seaa
 
Answer
# 9
CLOSING STOCK = OPENING STOCK+PURCHASE+DIRECT EXP.+ G.P-SALES 
Is This Answer Correct ?    2 Yes 0 No
Sandeep Pal
 
Answer
# 10
ppp 
Is This Answer Correct ?    7 Yes 12 No
:p
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Is Depreciation a source of fund   4
why is it called profit and loss account why not profit or loss account, ( u either get profit or loss ) Genpact 8
Whether is there vacancy for the post of Accountant?   1
Expand ________HDFC   2
Weather Closing Stock appears in Trial Balance. If not why and if yes how.   5
How the Basic salary will be fix for an employee? Infosys 2
What is difference between profit, revenue?   19
What is Exgratia???   1
Carriage outwards will appear on -----------side of---------   5
if closing stock appears in the trial balance what is the sollution HCL 7
Raman site engineer joined on 1-1-2009 in the company with an agreed salary of Rs 20000/-. On the joining date he was given advance of Rs 50000/-agreeing for adeduction of Rs 7500/- for month from salary. Pass salary entry till March,and let me know the advance balance as on 1st April   3
REALISATION ACCOUNT VS REVALUATION ACCOUNT Andhra-Bank 16
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
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