Anonymous

How To Calculate Closing Stock In Account?

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10 Answers

shailendra singh Ranawat Profile
If my opening stock is as
0.00% = 2305032
4.00% = 1154685.75
12.50%= 650725.50
total Openings Stock = 4110443.25

and purchases is as
0.00% = 16178645.38
4.00%=  10011894.00
12.50% = 10603435.00
Total purchases = 37174044.38

Sales as are
0.00%= 31386287.68
4.00%= 14714916.89
12.50% = 14083322.30

Total sales = 60184526.87

opng stock= 4110443.25
purchases= 37174044.38
sales = 60184526.87

then plz answer me that what is my "CLOSING STOCK" in my trading a/c.

Plzzzzzzz answr it?

What is closing stock ???
Anonymous Profile
Anonymous answered
Closing stock is an asset to the business and is therefore a debit entry.
Anonymous Profile
Anonymous answered
The following list of balances relate to m. Summer who has been trading for one year. List of balance at 31st December 2009.
Sales   $28794
Purchases  $23803
Rent and rates $854
Lighting expenses $422
Salaries $3164
Insurance $105
Shop buildings $50000
Shop fixtures $1000
Debtors  $3166
Trade expenses $506
Creditors $1206
Cash at bank $3847
Drawings $2800
Motor van $5500
Motor running expenses $1133
Capital $65900
Accruals $400

Stock at 31st December 2009
1. Prepare the trail balance for m.summer
2. Prepare the Financial Statements for m. Summer
Anonymous Profile
Anonymous answered
128000 is the closing stock
Anonymous Profile
Anonymous answered
Your purchases 658,000.00 and your sales 530,000.00. What will be your estimated closing stock?
JYOTHI BHARATHI Profile
JYOTHI BHARATHI answered
It is not possible to calculate closing stock by purchase and sales amounts. Let me explain with stock items, for example (assume with physical stock) example 1: Opening balance :   10,000    (20 qty * each cost 500) purchase balance:  20,000    (40qty *  Each cost 500) ------ Total stock           :  30,000 (means, I have 60 Qty @ Cost 500) ------ sales Balance   :  30,000 ( means I sold 50 qty @ cost 600) ------ Now I have stock balance 10 qty @ cost 500) (This is correct) ------ I think the following is equation is wrong.... Closing stock = opening stock + purchases - sales consider the above examples, the result is zero i.e, closing stock=10,000(Op Stock)+20,000(purch)-30,000(sales) =000000 IS IT Correct answer for closing stock (it's wrong). FINALLY YOU CAN'T CALCULATE CLOSING STOCK WITH AMOUNTS ONLY.
Anonymous Profile
Anonymous answered
You need to know the sales at cost... All sales include a contribution to fixed costs then profit.. Remove this and then the above equation is correct.

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