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INVENTORY GAIN OR INVENTORY LOSS

This query is : Resolved 
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(Querist)
21 January 2020 HI,

PLEASE LET ME KNOW IF THERE IS AN INVENTORY LOSS DUE TO OBSOLETE STOCK,EXPIRY OF AN ITEM,FOC ITEM ETC , THE SAME SHOULD BE ADDED TO THE COST OF SALE AND DEDUCT FROM COST OF SALE IN CASE OF INVENTORY GAIN. PLEASE DO CONFIRM
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Amol S Joglekar

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Amol S Joglekar (Expert)
22 January 2020 The 31st March inventory is valued at Cost or Market whichever is Lower. This takes care of your query.

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