Question

In books of manufacturing concern, Opening Stock consists of _______.

• A. Raw Materials
• B. Work in Progress
• C. Finished goods
• D. All of the above

Answer 1

The correct option is D All of the above

Opening stock includes raw material, work in progress and finished goods. Raw material are the products purchased to convert into finished goods. Work in progress are the raw materials which are in the process of getting converted into finished goods. Finished goods is the output that is converted from the raw material. All these are a part of the inventory.