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What could be the best way to solve Stock account for those stock which is damaged and unrecognizable condition ( No item code, no description )?

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Question ajoutée par Prabin Rai , inventory officer , bijaya motor
Date de publication: 2016/09/30
rajitha dodangolla
par rajitha dodangolla , Assistent Accountant , Qatar Optics

It will Depend Nature Of Company & Company Low. If There is Any Damages We Need to Move to Stock Dames Account & Then it will Effect to the Final stock. Then it will Effect to the Final Account.

MARLON QUILANG ASUNCION
par MARLON QUILANG ASUNCION , Senior Accountant , Al Shouhra Trading Co., W.L.L. (Chalhoub Group)

It will depend on the nature of the company, production or retail. For both, it is advisable to write-off inventory with adjustment to cost element depending on the nature of company. If production, it can be charged to cost of goods sold, while on retail industry, it will be charged to inventory loss expense.

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