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)
Quick Summary
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 Topics :
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
- Discuss and Download CA Final Question Paper Nov 2
- Does Parag gupta's booster batch good for CA Inter
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
Related Topics :
CAclubindia
