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Stock purchased of 250,000 during the year and its closing stock was 20,000 less than its opening stock of 100,000. How much stock was consumed ?

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تم إضافة السؤال من قبل Muhammad Imran , Deputy Manager Finance , Habib University
تاريخ النشر: 2014/11/25
Rashid Jahangir
من قبل Rashid Jahangir , Accounts Manager , Inteltec Emirates LLC

As per simple equation

Opening stock (100,000) + Purchases (250,000) - Closing stock (100,000-20,000=80,000)

Stock worth

100,000

250,000+

80,000-

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270,000

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Mohammed  Mohammed
من قبل Mohammed Mohammed , Senior SAP Consultant , Abyat Mega Store

270000 is correct answer .........

Bilal Naeem
من قبل Bilal Naeem , Assistant Manager Assurance , RSM Bahrain

Stock worth270,000.

 

Opening  + Purchases - Issuance = Closing balance ( Plain Maths)

or

Opening stock + Purchases - Closing stock = consumption ( Accountants COS way)

 

Hope this helps

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Stock purchased + Difference in Closing and Opening Stocks = Stock Consumed 

250000 + () =270000

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