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Trade Discount in Valuation in Inventory

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Trade Discount in Valuation in Inventory

  • This topic has 1 reply, 2 voices, and was last updated 1 week ago by mrjonbain.
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  • May 21, 2023 at 3:28 am #684752
    mawar
    Participant
    • Topics: 5
    • Replies: 1
    • ☆

    I wanna know about cost and NRV if it’s given a trade discount do we need to reduce the inventory just for cost or both? I have a little confusion here some of the questions that I answer we need to reduce the trade discount for the cost only but other questions reduce the trade discount for NRV only

    May 21, 2023 at 11:10 am #684765
    mrjonbain
    Moderator
    • Topics: 3
    • Replies: 1697
    • ☆☆☆☆☆

    In terms of cost, if a trade discount is received then this is the relevant cost that should be recorded as inventory. In terms of net realisable value, that may be a bit more complicated. If a trade discount is expected to be taken, I would suggest this should be taken into consideration. However, I am more uncertain about this point. Hope this helps.

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