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Doubt in "Goods sent on Sale or return basis"

Sir....... In practical question 4 in inventory chapter...... physical verification is done in 23rd June.....and stock value should be determined on 30th june........ in between 23rd and 30th goods sent on approval is 3,20,000 of which half of the goods were returned before 30th june.....but no information is available regarding the remaining half of the goods...... In solution.....what they have done is.....for the remaining half goods......cancellation of sales is made...... Now what my doubt is...... Should we do the Cancellation of sales only on the year end (or) it can be made in any other circumstances as above(question 4 of inventory)....

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Girinath A

Girinath A

CA Inter

655

20-Nov-20 01:34

15

Answers (1)

It can be done at month end as well.


Suraj Lakhotia

Suraj Lakhotia

Admin

20-Nov-20 08:24