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Closing stock

This query is : Resolved 
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(Querist)
22 July 2012 PLEASE EXPLAIN DIFFERENT FORMULA TO CALCULATE CLOSING STOCK FOR BUINESS EG-OP STOCK 512703 SALE 8889273 PURCHASE 8228149 WHAT WILL BE CLOSING STOCK
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
22 July 2012 if u had one apple at the start of the day

during the day you purchased 2 apples

and during lunch you gave one apple to your friend.

How many apples do you have at the end of the day assuming you did not eat any apple.

Whatever logic you apply to above example, same is applciable to your question.

Only difference is, if the above numbers in your query are amounts, then first bring the sales value at cost by removing the profit margin and then perform the same logic.
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SANYAM ARORA

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SANYAM ARORA (Expert)
22 July 2012 Different Methods are as follows -

1) FIFO
2) LIFO
3) HIFO and many more,but i think that will not serve your purpose.

The example given by you can be solved as follows -
Opening stock + Purchases - Closing stock = Sales
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