What is Opening Stock?
Opening Stock is defined as the amount or quantity of goods available to the business for sale at the beginning of the accounting period. The opening stock for the current period is usually derived from the stock available after the conclusion of sales from the last accounting period, based on the nature of the business. It is the quantity and value of raw materials, work-in-progress, and finished goods that are available at the beginning of each accounting year with the entity.
Table of Content
- Types of Opening Stock
- Formula for Calculating Opening Stock
- Examples of Opening Stock
- Advantages Of Opening Stock
- Limitations of Opening Stock
- Important Points Related to Opening Stock
- Conclusion
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