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• And more!
Check out this thread to learn more!
Change inventory without changing quantit
Hi -
I have a client who wants to change the value of his inventory at the end of 12/31/12 with out changing the quantities.
How can this be done? I wonder if it's even ok in terms of Accounting principles? I wonder how an auditor would suggest this be done.
The client said he has several items at $100 initially, and they want to reflect a loss on many accounts.
He wants the reduction of the value of inventory to reflect the loss in 2012, and they are still selling the items in 2013.
Thank you -
Sara
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