Inventories

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Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2010 In Balance Sheet Closing stock comprises Closing stock of Raw materials,W-I-P,Stores spare parts,Finished goods etc but in Profit & loss A/C the opening stock and closing stock comprises of what is this is opening,closing stock of Raw materials,w-i-p,finished goods,stores etc or it should be only opening,closing stock of Finished goods and w-i-p.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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29 June 2010 Whatever is there in the balance sheet i. e. stock of Raw materials,W-I-P,Stores spare parts,Finished goods etc should be there in the P & L A/c otherwise the accounts will not tally.