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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2815)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
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 18 No
Srikanth Reddy
 
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 ?    26 Yes 13 No
Kondaiah
 
Answer
# 5
Opening Stock + purchase -sales = closing stock 
Is This Answer Correct ?    26 Yes 13 No
Faisal
 
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 ?    20 Yes 16 No
Seaa
 
Answer
# 9
CLOSING STOCK = OPENING STOCK+PURCHASE+DIRECT EXP.+ G.P-SALES 
Is This Answer Correct ?    0 Yes 0 No
Sandeep Pal
 
Answer
# 10
ppp 
Is This Answer Correct ?    7 Yes 11 No
:p
 

 
 
 
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