If he withdrawn at half price, then if presumably NRV is lower than cost
Drawings a/c
NRV loss a/c
To Inventory a/c
Withdrawals a/c 500
To sales 500
To Inventory 500
Withdrawals a/c 500
Cash 500
To inventory 1000
sorry about that. Nice weekend
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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