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Mini Exercises – Cost of sales

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Mini Exercises – Cost of sales

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
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  • May 29, 2017 at 5:39 pm #388814
    Anonymous
    Inactive
    • Topics: 1
    • Replies: 0
    • ☆

    How do you calculate the opening and closing stock? I understand where the figures for Gross Profit and COS have come from and that diff between opening and closing stock needs to be 30% but how do you get to 75,833 for closing stock?

    May 29, 2017 at 7:55 pm #388842
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23350
    • ☆☆☆☆☆

    Back to your school days and algebraic equations!

    Let opening inventory be ‘X’ and then go from there

    OK?

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