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Computation of closing stock
How to compute closing stock in imsurance claim, when the goods are sold at two different gross profit percentage??
Replies (2)
under insurance claims, closing stock is the balancing figure. so you need to assessed the gross profit on sales.
compute gross profit for the period ending on the date of fire and then closing stock will be the balancing figure......No need to worry about different GP Rates, unless such goods form part of opening or closing stock.
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