Closing stock is always valued at market price. (State True or False)
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Hey buddy answer will be false !!!!
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The closing stock is always valued lower than the market price.
The above given statement is false
It should be posted at normal item price or market price whichever is lower.
It's because the stock has low value and higher prices will not encourage people to buy the product.
Example for such cases is end of the year sales and etc which are sold at lower prices than normal for them to get sold.
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