• Stock (inventory) is a measure of something on hand-goods, spares and other items in a business.
  • It is called Stock in hand.
  • In a trading concern, the stock on hand is the amount of goods which are lying unsold as at the end of an accounting period is called closing stock (ending inventory).
  • In a manufacturing company, closing stock comprises raw materials, semi-finished goods and finished goods on hand on the closing date.
  • Similarly, opening stock (beginning inventory) is the amount of stock at the beginning of the accounting period.

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