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doubt 2-Video lec 5- Basic group structures- SPLOCI example

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › doubt 2-Video lec 5- Basic group structures- SPLOCI example

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • April 4, 2021 at 2:17 am #615865
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    Sir somebody in the comments section had asked this really appreciable doubt, if you could guide me on it:

    “If Sale was made for $20m and a loss of $5m was made, shouldn’t $25m be reduced from cost of sales instead of $20m?”

    April 5, 2021 at 1:00 pm #615987
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2523
    • ☆☆☆☆☆

    Inter company sale

    Dr Sales Cr COS 20

    PUP

    No adjustment. Why? If you increase the inventory valuation from 20 to 25 – inventory will no longer be carried at the lower of cost and NRV.

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