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Ias 18

This topic has 3 replies, 2 voices, and was last updated 12 years ago by MikeLittle.

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November 16, 2012 at 8:17 am #55355
jordan55
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If a co. sells goods on a sale or return basis to a retailer, does it have to know whether the goods were sold again by the retailer to recognise the sale?
November 16, 2012 at 10:54 am #107575
MikeLittle
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- Topics: 27
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Yes
November 16, 2012 at 12:03 pm #107576
jordan55
Member
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Does the retailer have the right to refuse any disclosure concerning its sale and if so what does the co. do if it is not sure whether or not the goods will be returned?
November 16, 2012 at 4:48 pm #107577
MikeLittle
Keymaster
- Topics: 27
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Only in the same way that an agent would be able to ….. so “No”
The retailer, on a sale or return basis, will have to render an “Account Sales” to the wholesaler and account to the wholesaler the amount due net of the retailer’s commission.
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