This can either be the opening one or closing stocks. When we talk of opening stock we mean those stocks used in starting up any business while closing stocks are those ones that are unused, that is, those left over at the end of the business.
This is an aspect of account prepared purposely to determine a gross profit or gross loss made in a given period of time. It gives account of the finished goods of any business activity and likewise the stocks of the business, the purchases made in a given period, the carriages both inwards and outwards and …