Differences between closing stock and opening stock during an accounting year are known as:
Increase in stock
Change in stock
Decrease in stock
None of these
Change in stock refers to the difference between opening and closing stock.
Calculate amount of medicine consumed for the year 2012.
Opening Stock of Medicines 10,000 Rs
Opening Creditors of Medicines 9,000 Rs
Cash Purchase of Medicines during the year 30,000 Rs
Closing Stock of Medicines 15,000 Rs
Closing Creditors of Medicines 3,000 Rs