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Closing inventory in trial balance

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2011 Hi All,
Closing inventory has to be included in trial balance?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 September 2011 Closing inventory will not be form part of Trial balance, since the same value included in purchase accounts so we cannot add second time the same
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mahak katyal

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mahak katyal (Expert)
29 April 2012 Closing inventory never forms a part of the trial balance. only opening inventory forms a part of it.
Closing inventory is always taken as a adjusting entry,hence having two effects :
1) P& L a/c
2)balance sheet
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