Accounting for IGCSE & O level - Final Statements (Section 13 - No. 19)
To calculate the value of closing inventory, what two things do we need to know?
The physical quantity of goods
The selling price of the goods
The price of each good
The number of suppliers
Erläuterung
To calculate the value of closing inventory, we need to know the physical quantity of goods and the price of each good.