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Consumption recording

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(Querist)
11 January 2016 how to account consumable consumption by a hospital at cost or SP?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
11 January 2016 If costs are individually available in respect of each consumable item it should be recorded on cost basis by following FIFO method. Standard cost can be applied where purchase cost is not readily available.
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karimpana

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karimpana (Querist)
12 January 2016 thank u sir
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