Category: accounting-services.net

  • Consignment Inventory Accounting Defined + Journal Entries

    The accounting for consignment inventory differs according to the current stage in the agreement. Bashir sent a bank draft to A & Co., for $50,000 as an advance payment and later sent an account sale showing that 800 motors were sold at $220 each. Expenses incurred by Bashir on godown rent and advertisement etc., amounted…