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inventory treatment

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(Querist)
10 August 2009 Dear friend
I want to known that if any goods purchase for inventory from anyone of that month but goods not sold of that month what would be treatment for profit and loss account.
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Prashant

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Prashant (Expert)
12 August 2009 Calculate as follows"
Opening Stock + Purchse +sales Return -Sales - Purchase Return = Closing Stock

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