how to treat spoilage of goods in the stock debtor system
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plesase help me. I am also doing same chapter.
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Sometimes stock debtor account shows an unusual increase or decrease in the value of stock. This is the result of inaccurate prediction of the possible selling prices of the goods invoiced or some unpredictable conditions
For example, sometimes a part of the goods may be lost during transit or get damaged, i.e., before the actual receipt of .As a result, main Stock Account post it as a ‘deficit’ of Stock which is called ‘Apparent Loss’
In the case of Apparent Loss, the entries will be reversed.
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