21 October 2017
depends on whether profit is included or not. normally profit is included in opening stock as closing stock of previous year becomes opening stock of next year. regarding closing stock of current year it depends on whether it is valued at cost or loaded price, if its valued at loaded price then reserve is shown separately
21 October 2017
Dear Sir.,
Opening stock ll be calculate as expenditure account.... Closing stock is also calculated in Income account...
Please correct me if I'm wrong...!
CAclubindia
