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Valuation of closing stock

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(Querist)
25 August 2016 Closing stock of March 2016 includes stock pertaining to period before April 2015. What is the treatment of this stock? Is it to be included in closing stock of March 2016 or it is to be scrapped?
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CA Amrita Chattopadhyay

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CA Amrita Chattopadhyay (Expert)
26 August 2016 The closing stock also includes the stock of the previous period. If the stock can be sold in the market, it need not be scrapped.

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