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Business/Accounting Question

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  • 06-10-2014 10:47pm
    #1
    Shanotheslayer
    Registered Users Posts: 17,191 ✭✭✭✭


    Hi, first of all I'd just like to say I'm not doing LC but a finance course online so I don't really have anyone to ask. This is just a general business question that I imagine they do in LC and was hoping for some help. I was given a balance sheet and told to find gross profit net profit etc etc. One of the question is find the stock overturn. So one Balance sheet is based in 09 and they give me the stock and the closing stock. So I found the Stock Over Turn no problem using the formula. But for the 2nd balance sheet they don't give me the closing stock and I've no idea how to figure out how to find it. i've tried taken Stock away from sales etc and it's no joy. So does anyone know how to find closing Stock when it's not given? I know it's something basic that I'm just missing ><. Thanks for help in advance.


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    #2
    Boaty
    Closed Accounts Posts: 615 ✭✭✭Boaty


    Was doing an account there and to find closing stock.

    Closing stock= purchases + opening stock - sales


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