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Sir in point 5 the unsold stock of 30% is deducted from inventory why? In this question we are consignee then how we will add unsold stock on consignment to our inventory?
Answers (9)
CA Suraj Lakhotia Admin
It will be physically present with the trader. So while stock take, it would also be added.
Sir while doing stock taking we will do it on basis of ownership of goods or physically?
Thread Starter
Sri kanaga VarshiniSir while doing stock taking we will do it on basis of ownership of goods or physically?
We do it on what is physically present - We ask specifically if all the goods belong to auditee only - once we are aware of ownership, we shall count goods belonging to auditee
Sriram Somayajula Admin
We do it on what is physically present - We ask specifically if all the goods belong to auditee only - once we are aware of ownership, we shall count goods belonging to auditee
Sir if we have to stoke take the goods physically present on 31 march 2020, only 80%of the goods are there on 31/3/20 why do we take 30 % off?
lohita Prava
Sir if we have to stoke take the goods physically present on 31 march 2020, only 80%of the goods are there on 31/3/20 why do we take 30 % off?
Where have we taken 30% off? please elaborate is it in this question or some other question
CA Suraj Lakhotia Admin
30% is still in stock after 15th April. What is your exact doubt?
Sir, my doubt is how much value should we take in the stock taking?
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