In valuing the stock for the Balance Sheet at 31st Dec. 2015 ` 4,600 had been written off
on certain stock which was a poor selling line having the cost ` 13,800. A portion of
these goods were sold in March, 2016 at a loss of ` 500 on original cost of ` 6,900. The
remainder of this stock was now estimated to be worth its original cost.
Will you revise the stock on 31.3.2015?
Or
If you revise the stock, then how much will you add to the stock?
Stock value should not be revised upwards unless the same is realised through sale.
Please wait for other opinion as well.
CAclubindia
