Interested to Buy Any Domain ? << Click Here >> for more details...
how we do calculate of closing stock for company. what is the process of
calculation of closing stock.
- 2 Answers
- 6283 Views
- NSL, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manojs
inventory is calculated at the lower of cost or net
realisable value
process:fifo assumes goods bought first are sold
first. so after your sale the remaining goods are closing
inventory
2.lifo assumes the latest goods are sold first and
remaining would be your closing stock
| Is This Answer Correct ? | 8 Yes | 0 No |
WE HAVE 3 METHODS FOR CALCULATING THE CLOSING STOCK IN A
COMPANY THAT IS FIFO , LIFO AND WEIGHTED AVERAGE.NORMAL
CALCULATION IS closing stock = opening stock + purchase of
this period-
sales in this period = closing stock raw material value +
closing stock finishing material value. but in a company we
follow fifo that is first in first out method .
| Is This Answer Correct ? | 4 Yes | 0 No |
What is ERS(Evaluated Receipt Settlement) in Accounts Payable? How is it related to 2 way matching?
is there is mentioned that we can adjust excess debtors with creditor in the stock statement while calculating Drawing Power
Real,Nominal or Personal. Where do reserves, general reserve and Specific Reserve Go? and why?
What will happen if an organization not maintain the sufficient working capital?
What is Suspense Account?
How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?
how to pass the journal entry for tds dedcted on commission receivable
What do we mean by Redemption of shares and debentures?
what is defference between direct and indirect ezpences
when cheque deposited into bank, how to enter in tally?
what is faviourable balance,and overdraf balance in Brs? Give me sms on this no. 9885789716
CAN WE SUBMIT SERVICE TAX CHALLAN MORE THEN ONE IN A MONTH
Audit 
