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where should the closing stock amt will effect in p & l &
in b/s
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Answer Posted / rajesh
Closing stock is generally related to manufacturing /
trading entity. Normally, it appears as last item on the
credit side of trading account. In the balance sheet, it
appears under the group "Current Assets, Loans & Advances".
Closing stock may be of raw materials, work-in-progress,
stores, spares, consumables, finished goods.
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