IndigoLearn

Inventory valuation

Here half of the goods returned and other half not and as per sale on approval we have to show it as inventory.... My doubt is they have deducted it from sale and not added to inventory the for half of the value I am very confused abt the treatment will anyone explain in brief

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Ram Shete

Ram Shete

CA Inter

2K+

05-Dec-20 16:03

14

Answers (6)

Pls answer


Ram Shete

Ram Shete

CA Inter

2K+

06-Dec-20 12:55

We are on 23rd. From 23rd - 1,60,000 worth of goods are sold. This will reduce inventory.


Suraj Lakhotia

Suraj Lakhotia

Admin

07-Dec-20 16:41

Sir birthday have stated no information regarding half of the goods are we supposed that the goods have been sold if no information is received??


Ram Shete

Ram Shete

CA Inter

2K+

07-Dec-20 18:43

Means if we suppose that the goods have not been sold then should we include it in inventory and deducted from sell?? Will be the correct treatment?


Ram Shete

Ram Shete

CA Inter

2K+

08-Dec-20 21:12