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Average inventory

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Average inventory

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by mrjonbain.
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  • December 5, 2016 at 1:06 pm #353996
    seista
    Member
    • Topics: 39
    • Replies: 11
    • ☆☆

    Opening inventory.. 5000
    Purchases 2000
    Closing inventory 6000
    How is that we calculate average inventory is it 5000+6000÷2 ?

    December 12, 2016 at 8:33 am #363397
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2478
    • ☆☆☆☆☆

    If you just want the average inventory the purchases,cost of goods sold and other related figures are irrelevant to the calculation in question.The average inventory is usually calculated as a simple mean average of opening and closing inventory.Of course, the “normal” level of inventory held may be much higher or lower than this calculation indicates.

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