valuation of inventory
This query is : Resolved
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
Thanks in hope of solution
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.
P&L A/c............Dr
To Trading A/c.
It doesn't form part of the closing stock at all.
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