Henry, Cost of Sales = Opening Stock + Purchased Stock - Closing Stock. You will have to set the stock input and output account to get the valuation. Also some form of stock journal will be required for the values to be posted.
This may help you:
Please try to give a substantial answer. If you wanted to comment on the question or answer, just use the commenting tool. Please remember that you can always revise your answers - no need to answer the same question twice. Also, please don't forget to vote - it really helps to select the best questions and answers!
About This Community
|Asked: 1/11/14, 2:32 AM|
|Seen: 583 times|
|Last updated: 2/3/16, 4:57 AM|