Accounting for IGCSE & O level - Final Statements (Section 4 - No. 46)
What is closing inventory?
Goods that were sold during the accounting year.
Goods purchased during the year.
Goods which are unsold at the end of the year.
Goods that are used during the year.
Shpjegimi
Closing inventory are the goods which are unsold at the end of the year.