DISPLAY OUT OF STOCK PRODUCTS ACCORDING TO ADMIN INVENTORY SETTING

 

$isOutOfStockAllowed = Mage::getStoreConfig('cataloginventory/options/show_out_of_stock');
 
  foreach($_productCollection as $_product)
       {
        if(!$isOutOfStockAllowed){
         if(!$_product->isSaleable()){
          continue;
         }
         
        }
        //PRODUCT DISPLAY CODE HERE
        
        }