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Closing stock AS PER IND AS

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(Querist)
24 January 2025 closing stock can be shown in balance sheet??? or it has to go through p &L
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
25 January 2025 Closing stock appears on both financial statements: as an asset on the Balance Sheet and as a factor in calculating COGS on the Trading/P&L statement. This dual representation ensures that financial statements accurately reflects inventory status and profitability for a given period.
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