Inventory

The inventory is recognized in the books of accounts as and when the risks and rewards of the same are transferred .

Avasarala Vivek Aditya

CA Inter

★ 6K+

22-May-22 10:30

This was rough work, just asking..

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:01

Yes

CA Suraj Lakhotia

Admin

22-May-22 10:07

Workings+ ledger+ assumptions. Sir see second adjustment although we didn't receive inventory in hand risk and reward is assumed to be with us. Can't we assume that only the goods which we received will be part of our inventory?

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:20

Yes

Avasarala Vivek Aditya

CA Inter

★ 6K+

22-May-22 10:23

We can do it in ledger format

Avasarala Vivek Aditya

CA Inter

★ 6K+

22-May-22 10:24

This yes for what 1st question or second question

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:24

K

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:24

Thank you

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:24

So it would be more logical to assume risk and reward is transferred to us than that of actually holding the goods physically.

Thread Starter

Sugam SM

CA Final

★ 9K+

22-May-22 10:32

Yes bro

Avasarala Vivek Aditya

CA Inter

★ 6K+

22-May-22 10:38