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Financial statements

Accountancy

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

CA Inter

★ 10

22-Jul-20 08:35

574

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

CA Inter

★ 27K+

22-Jul-20 13:04

Hello

Aditya Kumar

CA Inter

★ 5

23-Jul-20 21:05