Closing Stock Is Valued at?

Answer: 

Closing stock is defined as the value of unsold goods that stay with the business on a mentioned date. In short, closing stock refers to that inventory which hasn’t been sold yet and is waiting to be sold. Closing stock is calculated by adding opening stock with purchases and deducting the cost of goods that are sold.

Closing stock is always known to be valued at cost price or market price whichever term is less. This revolves around the principle of conservatism. As per this, all losses that are anticipated are required to be recorded in the books of accounts. Along with this, all the gains that are anticipated must be avoided.