FSsForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › FSsThis topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts June 9, 2015 at 12:30 pm #255513 rustamrakhmatov27MemberTopics: 156Replies: 127☆☆☆tiny confusion sir: what is the difference between inventory in Sofp and opening and closing in Sopl? June 9, 2015 at 12:38 pm #255520 John MoffatKeymasterTopics: 57Replies: 54711☆☆☆☆☆In the Statement of financial position you are showing the assets and liabilities at the end of the year, so we show the closing inventory.In the Statement of profit or loss, we calculate the cost of goods sold as being the opening inventory plus the purchases let the closing inventory.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In