The following are possible sources of error in calculating closing inventory except for:
A) Mistakes in counting during the stocktake.
B) An incorrect cut-off between accounting periods.
C) Mistakes in dealing with goods on consignment.
D) Mistakes in the price at which the goods are sold to customers.

Question

Quizplus · Accepted Answer

Mistakes in the price at which the goods are sold to customers is not a factor in calculating closing inventory. The other options all have the potential to affect the accuracy of the closing inventory calculation.

The Following Are Possible Sources of Error in Calculating Closing