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

Stock in trade

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Changes in inventories

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Cost of materials consumed

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All of these

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Solution

The correct option is B
Changes in inventories

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

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Similar questions

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

_________________ shows the effect of the material consumed, the purchases of stock in trade and the changes in inventory of work in progress and finished goods.

Q. From the following information, calculate Change in Inventory of Finished Goods: Opening Inventory and Closing Inventory of Finished Goods ₹2,00,000 and ₹1,75,000 respectively.

Q. Calculate Cost of Materials Consumed from the following:
Opening Inventory of Materials ₹3,50,000; Finished Goods ₹75,000; Stock-in-Trade ₹2,00,000; Closing Inventory of: Materials ₹3,25,000; Finished Goods ₹85,000; Stock-in-Trade ₹1,50,000; Purchases during the year: Raw Material ₹17,50,000; Stock-in-Trade ₹9,00,000.

Q. From the following information, calculate Change in Inventory of Stock-in-Trade: Opening and Closing Stock-in-Trade ₹5,00,000 and ₹4,00,000 respectively.

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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 ___

The correct option is B Changes in inventories The difference between opening and closing inventories of finished goods, work-in-progress and stock-in-trade shall be classified as changes in inventories of finished goods, work-in-progress and stock-in-trade

The correct option is B
Changes in inventories

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