Can anyone please tell me why we pass this entry
Loss on write down of inventory
To Inventory acc
According to me, the value is already adjusted by closing stock. Also, we do not prepare inventory accounts under periodic system.
Menu
As 2 or Ind as 2
Replies (2)
Please check your inbox
The loss goes to cost of sales a/c
The inventory is reduced both the ways, in cost of sales inventory in assets.
Recent Threads
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
Related Threads
CAclubindia
