Formula
Opening balance of inventories + Ending balance of inventories
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2
OR on monthly basis
Inventories account balance at January 31 + inventories account balance at February 28 + ....+...+....+.........
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Number of months (say 12)
OR on monthly basis
Inventories account balance at January 31 + inventories account balance at February 28 + ....+...+....+.........
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Number of months (say 12)