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

Difference between opening inventories and closing inventories

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Difference between closing and opening invetories

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Difference between opening and closing inventories, if opening inventories are higher

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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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The difference between opening and closing inventories of finished goods, work-in-progress and stock-in-trade shall be classified as ___

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