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 Audit interview questions  Audit Interview Questions
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question 
How to calculate the closing stock value ?
 Question Submitted By :: Ajay
I also faced this Question!!     Rank Answer Posted By  
 
  Re: How to calculate the closing stock value ?
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 ?    117 Yes 38 No
Lalit
 
  Re: How to calculate the closing stock value ?
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 ?    60 Yes 29 No
Ajay
 
 
 
  Re: How to calculate the closing stock value ?
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 ?    33 Yes 17 No
Srikanth Reddy
 
  Re: How to calculate the closing stock value ?
Answer
# 4		 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 ?    25 Yes 12 No
Kondaiah
 
  Re: How to calculate the closing stock value ?
Answer
# 5		 closing stock=opening stock + purchases+ dirct exp - cogs 
Is This Answer Correct ?    19 Yes 14 No
Seaa
 
  Re: How to calculate the closing stock value ?
Answer
# 6		 opening stock + purchase + direct expenses + gross profit -
sales 
Is This Answer Correct ?    19 Yes 9 No
Lokes
 
  Re: How to calculate the closing stock value ?
Answer
# 7		 Opening Stock + purchase -sales = closing stock 
Is This Answer Correct ?    23 Yes 10 No
Faisal
 
  Re: How to calculate the closing stock value ?
Answer
# 8		 opening stock+Purchase-sales= closing stock 
Is This Answer Correct ?    8 Yes 13 No
Faizul Hasan
 
  Re: How to calculate the closing stock value ?
Answer
# 9		 CLOSING STOCK=OPENING STOCK + PURCHASE + DIRECT EXPENSES + GROSS PROFIT - SALES 
Is This Answer Correct ?    16 Yes 8 No
Bibs
 
  Re: How to calculate the closing stock value ?
Answer
# 10		 ppp 
Is This Answer Correct ?    4 Yes 8 No
:p
 

12 >>

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
In a organization what are comes under DEBIT side? Ex" all assets natural position is debit. like  3
Expand L I P  1
Where will Contingent liability appears? And why it is not appear in Balance sheet? ACS3
Explain PRICE RATE and also COST RATE.  2
what is quick asset Capital-IQ10
EXPAND_________VTPS  2
fill in the Blanks One Example of external users of accounting information_____  3
How to calculat closing stock?  8
Expand AOP?  2
Is there any classification of direct and indirect expenses in peach tree? then why?  1
What is two way matching in accounts payable ?  4
Is Entry Tax is applicable on consumable goods purchased Against C Form @ CST 2%  2
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
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