Question

closing stock with consignee is to be shown as asset of ______
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Answer 1

Answer:

The cost of unsold stock or closing stock should be valued at cost to the consignor plus proportionate non-recurring expenses incurred by the consignor and consignee.

Answer 2

CONSIGNOR

Closing stock with consignee is to be shown as asset of CONSIGNOR.

GETTING TO KNOW MORE ABOUT CONSIGNOR:

* A consignor is a person or corporation who is in charge of organising and beginning a shipment. A seller or an exporter might be a consignor (who ships goods from one country to the other).

* The shipping procedure and the number of parties involved in the transfer of goods differ depending on the seller. The buyer's information is supplied to the consignor when products are ordered.

* The consignor selects a carrier after receiving the order, and the carrier utilises its carrier assets to transport the products from the point of origin to the recipient or the final destination.