Difference between Inventory Valuation Account and Receiving Inspection account
Can someone explain in detail how Inventory Valuation and Receiving Inspection account should be different?
However, the definition is as follows.
Inventory Valuation Account: The value of Inventory is recorded in this Account.
Receiving Inspection Account: Inventory Receiving or Inventory Inspection account, used if we have decided to put Inspection before adding it to Inventory we need this account as Control account.