Drawing of goods
Atharv Sankliya (1306 Points)
24 December 2021
at which cost owner withdraw goods cost price or selling price ?
Atharv Sankliya (1306 Points)
24 December 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 24 December 2021
The revenue recognition standard has specific requirements to sell goods only at selling price.
Since it is the owner, and the profit margin on goods will increase taxes, it is usually withdrawn at cost or NRV, that means what ever the inventory valuation is.
Tanuj Chandra Saxenaa
(Company Secretary)
(7070 Points)
Replied 27 December 2021
CAclubindia
