The closing value is the final price at which a security is traded on a certain transaction day.
It is computed by:
First, knowing how many 1/8's in 1/2 = there is 4.
solution: 1/2 divided by 1/8
Then deduct the starting price to the dropping price
27 - 2 = 25
Then deduct the 3/8 to the 4 you have computed earlier
4/8 - 3/8 = 1/8
The closing price is
25 - 1/8 = 24.88
