Goods with consignee shown at market price in books of consignor.
Auditor will identify as
GBEN ROSESORE
di incorrect valuation
Incorrect allocation
0 Clerical error
Employee fraud
Answers
Entry for sending goods. Consignment a/c. ...
Entry for consignor's expenses. Consignment a/c. ...
Entry for consignee's expenses. Consignment a/c. ...
Entry for advance given by consignee. ...
Entry for sales. ...
Entry for commission. ...
Entry for collection from debtors. ...
give thanks pls
Incorrect valuation
Accounting inventory valuation is the expense related to a substance's stock toward the finish of a revealing period. It frames a critical piece of the expense of merchandise sold computation, and can likewise be utilized as insurance for credits. This valuation shows up as a current resource on the element's accounting report. The stock valuation depends on the expenses brought about by the element to gain the stock, convert it into a condition that prepares it available to be purchased, and has it moved into the appropriate spot available to be purchased.