Question

What is the difference between opening stock and closing stock?

Answer 1

Opening Stock is the amount and value of materials that a company has available for sale or use at the beginning of an accounting period.The closing stock can be in various forms such as raw materials, in-process goods (WIP) or finished goods. The Closing stock is the inventory which is still in your business waiting to be sold for a given period. The opening stock for the next reporting period is the same as the closing stock from the immediately preceding period.