Hello I have the following concerning inventory.
The method used is just the WAC method. It will the good the software takes into consideration other methods like FIFO, LIFO etc.
In the presentation of the Profit and loss. It will be good we have a format to present the trading Account (ssles - cost of goods sold =Gross margin) and the profit and loss Account (Gross profit +other revenue- operating expenses = Net profit. (IAS 1)
3.Then the profit and loss Account doesnt show the purchase it shows rather the Cost of sales it will be good it shows the purchases from which variation of stock is subtracted to get the Cost of sales. (IAS 1)