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Question

Change in inventories of finished goods, work-in-progress and stock-in-trade means _________________________.

A
Difference between opening inventories and closing inventories
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B
Difference between closing and opening invetories
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C
Difference between opening and closing inventories, if opening inventories are higher
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D
Difference between closing and opening inventories, if closing inventories are higher
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Solution

The correct option is D Difference between opening inventories and closing inventories
Change in inventory means difference between total of opening and closing inventories. Opening inventories and closing include all raw material, work-in-progress and finished goods of inventory.

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