Yes.

Suraj Lakhotia

Admin

02-Oct-20 11:48

Sir, in all the problems I have studied the amount of goods lost in transit were only deducted from the value of closing stock in a few. So is there any specification as to when we should deduct the amount

AKSHITA SITA PRAVA

CA Inter

★ 10

02-Oct-20 11:58

You need to deduct whatever is lost. Cost of Normal Loss is not deducted. It is absorbed by good units. All losses (wherever they occur) are deducted.

Suraj Lakhotia

Admin

02-Oct-20 15:58

Thank you sir

AKSHITA SITA PRAVA

CA Inter

★ 10

02-Oct-20 17:10