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Consignement

Sir if goods are sent on consignement and there is a normal loss and abnormal loss means we have to calculate the abnormal loss nd closing inventories with the rate of normal loss we have calculated am I right sir?


S.P. RAYAN

S.P. RAYAN

CA Inter

3K+

13-May-20 12:14

63

Answers (1)

Yes. Find out the rate per unit in case of normal loss Cost per unit= (Total cost+Expenses incurred) /(Total quantityâ??Normal loss) â??Calculate abnormal loss at that rate and credit it to consignment account and transfer to P&L account


sudha reddy

sudha reddy

Moderator

15-May-20 15:04

GET15
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