diff --git a/erpnext/accounts/utils.py b/erpnext/accounts/utils.py
index 2ab9ef6..015bce5 100644
--- a/erpnext/accounts/utils.py
+++ b/erpnext/accounts/utils.py
@@ -1368,10 +1368,7 @@
 		if wh_details.account == account and not wh_details.is_group
 	]
 
-	total_stock_value = 0.0
-	for warehouse in related_warehouses:
-		value = get_stock_value_on(warehouse, posting_date)
-		total_stock_value += value
+	total_stock_value = get_stock_value_on(related_warehouses, posting_date)
 
 	precision = frappe.get_precision("Journal Entry Account", "debit_in_account_currency")
 	return flt(account_balance, precision), flt(total_stock_value, precision), related_warehouses
diff --git a/erpnext/stock/report/incorrect_stock_value_report/incorrect_stock_value_report.py b/erpnext/stock/report/incorrect_stock_value_report/incorrect_stock_value_report.py
index df01b14..16ff527 100644
--- a/erpnext/stock/report/incorrect_stock_value_report/incorrect_stock_value_report.py
+++ b/erpnext/stock/report/incorrect_stock_value_report/incorrect_stock_value_report.py
@@ -84,7 +84,7 @@
 	closing_date = add_days(from_date, -1)
 	for key, stock_data in voucher_wise_dict.items():
 		prev_stock_value = get_stock_value_on(
-			posting_date=closing_date, item_code=key[0], warehouse=key[1]
+			posting_date=closing_date, item_code=key[0], warehouses=key[1]
 		)
 		for data in stock_data:
 			expected_stock_value = prev_stock_value + data.stock_value_difference
diff --git a/erpnext/stock/utils.py b/erpnext/stock/utils.py
index 9c2e2c8..fb52697 100644
--- a/erpnext/stock/utils.py
+++ b/erpnext/stock/utils.py
@@ -9,9 +9,9 @@
 from frappe import _
 from frappe.query_builder.functions import CombineDatetime, IfNull, Sum
 from frappe.utils import cstr, flt, get_link_to_form, nowdate, nowtime
-from pypika.terms import ExistsCriterion
 
 import erpnext
+from erpnext.stock.doctype.warehouse.warehouse import get_child_warehouses
 from erpnext.stock.valuation import FIFOValuation, LIFOValuation
 
 BarcodeScanResult = Dict[str, Optional[str]]
@@ -54,7 +54,9 @@
 	return stock_value
 
 
-def get_stock_value_on(warehouse=None, posting_date=None, item_code=None):
+def get_stock_value_on(
+	warehouses: list | str = None, posting_date: str = None, item_code: str = None
+) -> float:
 	if not posting_date:
 		posting_date = nowdate()
 
@@ -67,20 +69,16 @@
 		.orderby(sle.creation, order=frappe.qb.desc)
 	)
 
-	if warehouse:
-		lft, rgt, is_group = frappe.db.get_value("Warehouse", warehouse, ["lft", "rgt", "is_group"])
+	if warehouses:
+		if isinstance(warehouses, str):
+			warehouses = [warehouses]
 
-		if is_group:
-			wh = frappe.qb.DocType("Warehouse")
-			query = query.where(
-				ExistsCriterion(
-					frappe.qb.from_(wh)
-					.select(wh.name)
-					.where((wh.name == sle.warehouse) & (wh.lft >= lft) & (wh.rgt <= rgt))
-				)
-			)
-		else:
-			query = query.where(sle.warehouse == warehouse)
+		warehouses = set(warehouses)
+		for wh in list(warehouses):
+			if frappe.db.get_value("Warehouse", wh, "is_group"):
+				warehouses.update(get_child_warehouses(wh))
+
+		query = query.where(sle.warehouse.isin(warehouses))
 
 	if item_code:
 		query = query.where(sle.item_code == item_code)