stock valuation
So u have to pass consumption entry
Ok what will be the consumption entry? please mention.
consumption a/c debit
to inventory account.
Let me know what accounting system you are using ?
But the same invetory has to be effected in B/S.
Then how it will be.?
Is the consumption (ie debit in above) is deducted from inventory in B/s.
Then what are the entries to be passed to make the stock to such value.
suppose first year cost 100
NRV =90
second year cost = 100
NRV = 110.
This is the situation i wanted to tell u.
So please tell me the entries
Pleae clarify me about words used by you that "It is revaluation less than cost".
I hope U understand my view by above example.
Let me know the meaning of the words quoted above by s.srinivasaraghavan sir.
It is realisation - Cost
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