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Closing Inventory in the Extended Trail Balance

MCHitchMCHitch Registered Posts: 2
Hi all, first post so thought it might as well be a question. I am working on the Extended Trail Balance and I am confused why Closing Inventory is posted both to the SoPL and the SoFP. Can anyone tell me why?
Thanks, Matt!

Best Answer


  • MCHitchMCHitch Registered Posts: 2
    Thanks! So as Closing Inventory is part of the CoS calculation, it will need to be entered SoPL and also in the SoFP as it is also an Asset.
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