I found major miscalculation of price in quantity for inventory items not matching with its related purchase price unit deducted from sales inventory and inventory write off. How to solve them.
Not matching between unit price with its related quantity price for inventory items
johsin
#3
Let me explain the case. In the inventory items we purchase 30 bottle with the purchase price IDR 4375 and sales price IDR 5000 per unit. 16 of them were sold (journal entry at sales inventory account) and 9 were for internal usage (entry at inventory write off) so it rest 5 units… What I found is that the write off value is -IDR 21871 instead of 9 x 4375 = -39375 in the list of the inventory on hand in the summary. Kindly please explain how is the Inventory write-off terms of calculation because I might misapplied it. Thank you.
lubos
#4
Write-off should be 39,375. Send your accounting file to bugs@manager.io so we can see what’s wrong.