Accounting treatment of raw material inventory consumption
This query is : Resolved
Rahul Jain
(Querist)
21 July 2023
does the raw material inventory consumption are directly booked as and when purchased or are first debited to inventory account and then consumed on accrual basis
CA R SEETHARAMAN
(Expert)
21 July 2023
Both accounting treatment possible.
In case of directly booked as and when purchased monthly/year end stock taken and credited to p and l account.
In case of directly booked as and when purchased monthly/year end stock taken and credited to p and l account.
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