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what is Opening & Closing Balance?

Answer Posted / prathiba.p.v@gmail.com

Opening stock is the starting stock, which was brought from
the previous year.And closing stock is the value of unsold
goods at the end of the trading period.Closing stock is
valued at the cost price or the market price, which is
lower. It should be noted that the closing stock of the
current year, will be the opening stock for the next year.

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