Question

closing stock is always valued at market price true or false

Answer 1

false 
Closing stock is always valued at cost or net realizable value whichever is lower . 

Answer 2

"The "given statement" is "false".

Closing stock is constantly esteemed at expense or net feasible esteem whichever is lower.

Net realisable esteem implies the cost at which stock can be sold in the market less any selling costs. Stock is dependably an incentive at expense or net feasible esteem whichever is lower. (This is as per Principle of Conservatism or Prudence). Merchandise pulled back by the owner are constantly esteemed at cost."