Please clarify the accounting entries
Hi all,
Please clarify the accounting entries.
At the final stage of production confirmation entry will be
inventory debit
change in stock finished goods credit
then at the time of sales while doing PGI accounting entry will be
cogs debit
inventory credit
This change in stock finished goods is having huge credit balance lying in g/l.
how it will be considered in financials. Is there any setting off for this balance with consumption.
Regards,
Deepak
Hi all,
Please clarify the accounting entries.
At the final stage of production confirmation entry will be
inventory debit
change in stock finished goods credit
then at the time of sales while doing PGI accounting entry will be
cogs debit
inventory credit
This change in stock finished goods is having huge credit balance lying in g/l.
how it will be considered in financials. Is there any setting off for this balance with consumption.
Regards,
Deepak
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