Cost of salesForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Cost of salesThis topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts March 3, 2020 at 4:44 pm #563931 Anuja NairMemberTopics: 365Replies: 353☆☆☆☆Hi sir , in order to eliminate unrealised profit still in inventory from consolidated financial statements, we have toDR Cost of sales CR InventoryBy debiting cost of sales, are we increasing the account or decreasing the account ? and why do we have to increase or decrease cost of sales March 4, 2020 at 5:58 pm #564217 Stephen WidbergKeymasterTopics: 15Replies: 3355☆☆☆☆☆COS = opening inv + purch – closing invTechnically we are reducing the value of closing inventoryClosing inventory is a credit, so we reduce by posting a debitAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In