stock valuation
This query is : Resolved
10 August 2010
Free scheme stocks received from the supplier will be delivered to Customers.The free scheme stock on hand will be valued at cost or zero? because, in the purchase invoice the value of free scheme stk is zero?
11 August 2010
Sh Jitender is right. The financial transactions are recorded in the books at the cost.
The question is very interesting.
According to the Cost Concept of accountancy; you have to record the transaction at cost.
Since cost is NIL; hence the value would also be zero.
The question is very interesting.
According to the Cost Concept of accountancy; you have to record the transaction at cost.
Since cost is NIL; hence the value would also be zero.
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