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if closing stock appears in the trial balance what is the
sollution
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Answer Posted / h.r. sreepada bhagi
This can happen in an ERP Accounting system. In that case
you need not make any adjustments for calculating "Cost of
Materials Consumed" (COMC)(In case of a Manufacturing
Company) or "Cost of Goods Sold" (COGS)(In case of a Trading
Company). Assuming that the Trial Balance Closing figure is
correct, it shall appear as it is under "Current Assets" in
the 'Balance Sheet
Instead of Purchases, COMC or COGS will be taken directly in
the Profit and Loss Account.
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