Question

what is opening stock and closing stock​

Answer 1

Answer:

opening stock is the value of goods available for sale in the beginning of an accounting period.

closing stock is the value of goods unsold at the end of the accounting period.

Answer 2

Answer:

Opening stock- This is the stock which is kept from the past accounting year....therefore this stock has to carry forward in next year( Eg :- there are 2 books on 31 March 2019 which are not sold then it will be carried up to 1st April 2019)

Closing stock - This is the stock which is remained at the end of the year ( Eg - The 2 books on 31st March were closing stock)