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Closing stock is an asset in a balance sheet but why we write closing stock in credit side in profit & loss account?

Accounting
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Question added by asada ali
Date Posted: 2016/12/18
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Mudassar Hayat
by Mudassar Hayat , Senior Auditor (INT) , Fatima Memorial Systems

Cause closing stock is not part of "cots of goods sold" or any other expense.

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