Valuation of free goods.
This query is : Resolved
24 January 2013
Hi.. anyone plz answer this query..
How to value the free goods received from supplier along with purchase?
How to value them in closing stock and at the time of sale?
How to value the free goods received from supplier along with purchase?
How to value them in closing stock and at the time of sale?
Amol S Joglekar
(Expert)
24 January 2013
The value is zero. Make the entry in the stock register accordingly in Quantity column and value column.
24 January 2013
Amol sir , but how to treat when the same is sold or is in closing stock?
Amol S Joglekar
(Expert)
24 January 2013
Stock register will have that item. The quantity is recorded in the stock register. At the time of sale, pass the entry as usual.
24 January 2013
hello sir,
If i have purchased 10 items at 10rs each and got 2 free.
I made a sale of 5 items at 12 each, then wat would be the amount of closing stock..?
If i have purchased 10 items at 10rs each and got 2 free.
I made a sale of 5 items at 12 each, then wat would be the amount of closing stock..?
24 January 2013
hello sir,
If i have purchased 10 items at 10rs each and got 2 free.
I made a sale of 5 items at 12 each, then wat would be the amount of closing stock..?
If i have purchased 10 items at 10rs each and got 2 free.
I made a sale of 5 items at 12 each, then wat would be the amount of closing stock..?
Amol S Joglekar
(Expert)
24 January 2013
12 items for INR100. That is the stock value. 7 are remaining. Value it on average cost basis. 700/12. You may also go by LIFO or FIFO. Choice is with you.
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