In my opinion, purchase of stock is recorded through Purchase A/c in periodic inventory system and through Inventory A/c in perpetual inventory system. Please tell, how are the discrepanices observed in physical stock taking adjusted under both the methods!!
Thanks
It is not a stock purchase,as for manufacturing company..purchase of RM is there ,not FG..but for trading company purchase of FG can be there..In otherway IND AS on inventory has to be followed..
I agree CA Maulik, but please tell how are the differences observed after physical stock verification adjusted under both the methods!!
Thanks
CAclubindia
