Question

closing stock always recorded in ​

Answer 1

Explanation:

Closing stock is always valued at cost price or market price which ever is less. It is based on the principle of Conservatism. According to this, all anticipated losses should be recorded in the books of accounts and all the anticipated gains should be ignored.

Answer 2

Answer:

Closing stock is always valued at cost price or market price which ever is less. It is based on the principle of Conservatism. According to this, all anticipated losses should be recorded in the books of accounts and all the anticipated gains should be ignored.

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