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Accountancy

What does it mean change in inventory of finished goods is negative and what is the treatment of it in statement of profit and loss accounts.

Sri kanaga Varshini

CA Final

★ 3K+

18-Apr-21 12:09

446

Answers (2)

Produced more than what it was able to sell (closing > opening). Changes in inventories is shown as line item in P&L as per schedule 3, calculated as difference in the opening balance and closing balance

Sahibdeep Singh

CA Inter

★ 14K+

19-Apr-21 10:40

Sahibdeep Singh

Ok sir thank u

Thread Starter

Sri kanaga Varshini

CA Final

★ 3K+

19-Apr-21 10:50

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