Unit-11 Consignment Accounts-II

In this unit you will learn how the value of unsold goods is worked out and recorded in books of account.

List the expenses taken into account while valuing the unsold stock.

What procedure is followed for valuation of closing stock when the abnormal and normal losses occur simultaneously?

What is the difference between normal loss and abnormal loss? Give examples

List the expenses taken into account while valuing the unsold stock.

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Following expenses are usually added for calculation of closing stock.

i.Carriage and Freight

ii.Loading Charges

iii.Customs Duty

iv.Clearing Charges

v.Dock dues

vi.Carriage paid upto the godown

vii.Unloading Charges