Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.
This very interesting question.
Like if it is Asset than why don't we record it in balance Sheet . why we record it in income statement and why we close it in closing Entry,
Its a asset. once its consumed or depreciated it will be a expense.
It is an Expense ...and i ma agree with Mr.Moain Ali
Purchase is the cost of buying inventory during a period for the purpose of sale in the ordinary course of the business. It is therefore a kind of expense and is hence included in the income statement within the cost of goods sold and the closing inventories consider as Asset and recorded in Balance Sheet.
Avez-vous besoin d'aide pour créer un CV ayant les mots-clés recherchés par les employeurs?