Stock (inventory) is a measure of something on hand-goods, spares, and other items in a business. It is called Stock in hand.
In a trading concern, the stock on hand is the amount of goods that are lying unsold as at the end of an accounting period is called closing stock (ending inventory).
In a manufacturing company, closing stock comprises raw materials, semi-finished goods, and finished goods on hand on the closing date. Similarly, opening stock (beginning inventory) is the amount of stock at the beginning of the accounting period.
Tag:11accounts, 11commerce, 11economics, 11thcommerce, 12accounts, 12commerce, 12economics, 12thCommerce, BComAccounts, BESTCOMMERCEANDACCOUNTANCYPLATFORM, CAFinalAccounts, CAfoundation, CAfoundationAccounts, CAfoundationEconomics, CAfoundationLaw, CAHARSHITA, CAInterAccounts, commerceachiever, commerceoptional, Economics, economicsclass12, Equity Theory, gLOSSARY OF hrm, GST, HR Glossary, Human Resource Accounting, incometax, mba hr, mba hr notes, MComAccounts, NCERT, ncertcommerce, Stock, stock in hand, tax, UGCNETCommerceOptional, UPSC COMMERCE OPTIONAL BOOKS, UPSC Commerce Optional Material, UPSC COMMERCE OPTIONAL PDF, UPSC Commerce OPtional Previous Year Paper Solution, UPSC Commerce Optional Previous Year Papers, UPSCcommerceOptional, UPSCoptional