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valuation of inventory

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(Querist)
15 May 2009 In case if some item of stock is distributed free then it is required to deduct cost of free distributed items from overall cost or to be part of overall cost as normal items.....
Thanks in hope of solution
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
16 May 2009 The following journal entry needs to be passed in case stock is distributed for free of cost.

P&L A/c............Dr
To Trading A/c.

It doesn't form part of the closing stock at all.

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