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Financial statements

In profit and loss account format under the heading expense there is change in inventory in that why we subtract opening to closing ?? Why we cannot do closing to opening.


Akshay jerry

Akshay jerry

CA Inter

10

22-Jul-20 08:35

26

Answers (2)

As opening balance is also considered for consumption along with purchases and closing stock is actually not consumed and lying as an asset


ruchi lahoti

ruchi lahoti

Moderator

22-Jul-20 13:04

Hello


Aditya Kumar

Aditya Kumar

CA Inter

5

23-Jul-20 21:05

Happy Mother's Day
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