Regarding closing stock

This query is : Resolved

Shefali dubey (Querist)
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05 June 2014 in balance sheet closing stock of the year at cost or NRV whichever is lower is shown. then what about the the stock of previous years which is still remaining in godown??? where we will show such stock??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 June 2014 need to be valued the previous year stock also and make the necessary adjustment accordingly in the books

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 June 2014 the closing stock in balancesheet should include all the stock lying with the company.

Guest

Guest (Expert)

06 June 2014 stock of previous year means..

closing stock should inculde all types of stocks na... opening, purchase ...

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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07 June 2014 Closing stock includes stock as on balance sheet date. So it includes stock of earlier year unsold.

Rupesh Jain

Rupesh Jain (Expert)
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07 June 2014 you have to take all stock in hand on dt 31.3.... stock at job worker, or godown, or in factory. or in shop. all stock will taken on 31.3....