Dynamically referencing above rows in the same column

NaveenMD 
Here you go

Closing Stock 2 = 
VAR T1 = FILTER ( 'Table', 'Table'[Index] <= EARLIER ( 'Table'[Index] ) )
RETURN
    SUMX ( 
        T1,
        VAR Qty = 'Table'[Material QTY]
        VAR T2 = FILTER ( T1, 'Table'[Index] >= EARLIER ( 'Table'[Index] ) )
        VAR Rate = 
            PRODUCTX ( 
                T2, 
                IF ( 
                    'Table'[Index] = EARLIEST ( 'Table'[Index] ),
                    1,
                    ( 1 - 'Table'[Rate] ) 
                )
            )
        RETURN
            Qty * Rate
    )