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In case there are goods in transit , why is it necessary to reduce the PUP from it if there is no mention about any inventory being left out in the year end ?
Hi,
It is because the goods will have been sold at a profit, and when the goods have been recorded within the group SFP then this profit will be included within their value. The profit therefore needs to e removed as the goods have not yet been sold outside of the group.
Thanks
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