Question

State the expenses that are not considered while valuing unsold stock lying with the consignee

Answer 1

Answer:

In their present value place and condition such as freight, octroi duty, insurance, forwarding charges, carriage up to consignee's godown etc. ... Expenses incurred in storage and selling the goods after the goods reach consignee's godown are not to be considered in the cost of the unsold stock (closing stock).

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Answer 2

Answer:

Godown rent

Explanation:

Consignment

It is the arrangement between the reseller(consignee) and the supplier (consignor) that allows the reseller to pay their products after the products have been sold

How to value the unsold stock

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

Expenses are to be valued for unsold stock

Cost price

• Carriage inward
• expenses to be allocated