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Closing stock of raw material
A company purchase a raw material which will ready for manufacturing after 10 yr mean the company have to hold the raw material for at least 10 yr then it will ready for manufacturing then how it is recorded?
Replies (2)
Quick Summary
What kind of Raw material you want to keep for 10 years?
Is it liquor?
Then just do purchase entry only.
And it will part of closing stock until & unless you sell this.
Iron is also anorher example i guess. Keep purchases and keep on adding costs of holding inventory annually to the cost of inventory
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