Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Closing stock (https://www.askmehelpdesk.com/showthread.php?t=718377)

  • Nov 21, 2012, 12:37 PM
    fbaaberey
    Closing stock
    I know that in a trial balance closing stock is not shown there but shown under the trial in the additional notes. Can there be a very sophisticated situation when it could be shown in trial balance? If yes will it be at the debit side or credit side?
  • Nov 21, 2012, 06:44 PM
    paraclete
    Obviously in a perpetual inventory system, the balance of inventory is the closing stock, but under such a system the cost of sales has already been determined. Inventory is an asset it is always a debit

  • All times are GMT -7. The time now is 09:30 AM.