What is meant by closing stock?
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Closing stock is the amount of inventory that a business still has on hand at the end of a reporting period. This includes raw materials, work-in-process, and finished goods inventory. The amount of closing stock can be ascertained with a physical count of the inventory.
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CLOSING STOCK :
a business's remaining stock at the end of an accounting period. It includes finished products, raw materials, or work in progress and is deducted from the period's costs in the balance sheets.
Example-At the end of the month the closing stock was 10 per cent higher than at the end of the previous month.
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a business's remaining stock at the end of an accounting period. It includes finished products, raw materials, or work in progress and is deducted from the period's costs in the balance sheets.
Example-At the end of the month the closing stock was 10 per cent higher than at the end of the previous month.
Hope it helps..:"))
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