Description
There will be an opening balance in this account representing opening
stock at branch at selling price and a closing balance representing closing stock at branch at
selling price. After all the relevant entries have been passed to this account as already detailed,
both sides of this account should agree. Any difference represents surplus or deficiency of stock
and will be transferred to a stock discrepancy account. The stock discrepancy account will be
closed by transferring the load to branch stock adjustment account and the balance to branch
profit & loss A/c.
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