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Writt off inventory

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(Querist)
17 June 2014 what is the accounting entry for inventory written off?and it effects in B/S and P/L.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
17 June 2014 It should be booked as abnormal loss (if it is normal loss, it should include in cost of sales).
Yes it will have impact on profit and loss and closing stock.
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Vishnu Saboo

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Vishnu Saboo (Expert)
17 June 2014 Written off stock A/c Dr
To Inventory a/c

Written off stock a/c is part of P&L and inventory a/c is part of B/S.
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