Cash managenet

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December 9, 2019 at 3:53 pm #555552
nour2014
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A quick question about how to calculate the open/close inventory. Is the open is % of sales or % of the cost of sales in that month?
December 13, 2019 at 10:08 pm #555886
P2-D2
Keymaster
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Hi,

It would be on the cost of sales, if it is given in $. You cannot take a percentage of the sales figures in $ as this incorporates the profit, and inventory is held at the lower of cost and NRV.

Thanks
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