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    Jinansh's Avatar
    Jinansh Posts: 1, Reputation: 1
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    #1

    Jan 3, 2014, 04:34 PM
    How to calculate closing stock
    Purchases 1,44,000
    Purchases Returns 2,000
    Opening stock 50,000
    Sales 3,00,000
    Sales Returns 10,000
    Direct Expenses 66,500
    Calculate closing stock??
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jan 4, 2014, 12:56 PM
    Based on the information provided you have to calculate net income. So start with your sales minus your sales returns minus purchases plus purchase returns minus expenses equals net income.

    Now take your opening stock plus net income equals Retained Earnings(or closing stock).
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