Physical V/s Actual inventory Valuation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 January 2011
i have purchased two items :
Steel Bar -> 1000KG @ 50 = 50000.00
Alu Bar -> 1000KG @ 192 = 192000.00
After consumption at the year end the actual stock of invenotry is as follows:
Consump. Sys.Stock Phy. Stock
Steel Bar 800 200 150
Alu Bar 720 280 320
Please guide me
1. what will be my inventory value ? &
2. What will be my consumption value ?
Thanks in advance,
Alpesh Patel
99747 64303
Steel Bar -> 1000KG @ 50 = 50000.00
Alu Bar -> 1000KG @ 192 = 192000.00
After consumption at the year end the actual stock of invenotry is as follows:
Consump. Sys.Stock Phy. Stock
Steel Bar 800 200 150
Alu Bar 720 280 320
Please guide me
1. what will be my inventory value ? &
2. What will be my consumption value ?
Thanks in advance,
Alpesh Patel
99747 64303
CA Jeen paul
(Expert)
22 January 2011
it is assumed that there is no opening stock.
check wheter there is any clerical mistake in entereing consumption or physical verification.
in the case of steel bar there is shortage of 50 and it is abnormal loss it will not effect the cost of production and going to effect the net profit.
in case of Alu bar total consumption and stock cannot be in excess of 1000,there is mistake in entering the data
check wheter there is any clerical mistake in entereing consumption or physical verification.
in the case of steel bar there is shortage of 50 and it is abnormal loss it will not effect the cost of production and going to effect the net profit.
in case of Alu bar total consumption and stock cannot be in excess of 1000,there is mistake in entering the data
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