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Course Content

FAQs

Opening Stock + Purchases – Cost of Goods Sold = Closing Stock Formula (Ending).

The amount of inventory a company has on hand at the end of a reporting period is known as closing stock. This covers inventory for raw materials, work-in-progress, and finished goods. Production supplies, for example, are not considered part of closing stock because they are charged to expenditure as incurred.

The actual unit in which the linked values are measured is referred to as a unit of measure. Context: The linked conceptual domain's dimensionality must be appropriate for the unit of measurement. ISO 31-0:1982 specifies a physical measurement system (the International System of Units, SI).

  • Go to Tally's Gateway > Inventory Info.
  • Fill in the Name, Group, and Units of Measurement (basic units of measurement) fields.
  • In the field Additional Units, select the item's alternate units of measurement.

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