Stock and work in progress

How do I enter stock and work in progress figures into quick file please

How have you been recording your goods/raw material purchases as you go along?

I’m not sure about work in progress but the way I used to record year end stock as a retailer was to journal on the last day of the accounting year credit “closing stock” and debit “stock” for the value of stock at year end. Then next year journal credit stock and debit “opening stock”, etc. The cost of sales for the year then ends up being what you started with (opening) plus what you bought (general purchases) minus what you have left at the end (closing), and the year end balance sheet shows your current stock in hand.

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