Inventory Valuation Problem

[Former Member]

Hi Experts

Problem In my Inventory Audit Report.

Eg;

01/04/2010 Opening Balance 10 Qty 100/- Rs 1000 Value

01/04/2010 Reverse Entry Through DTW -10 Qty 110/- Rs 1100 Value

Total 0 Qty -100 Value

How To Solve It This Differance.

My Client Wish To This Differance is 0.00.

Thanks,

Srujal Patel

Edited by: Srujal Patel 77 on May 18, 2011 11:22 AM

[Former Member]

Hi Srujal.......

The Quantity is nill by reverse effect so you can not revaluate with the right cost.

You need to pass manual JE in order to settle your 100/- in Account.......

Regards,

Rahul

[Former Member]

Hi Rahul

As Per Your Solution I have Only Sattel Inventory Account. But Not Change Each Item Valuation.

The Mistake Around 450 To 500 Number of Item.

So, What Will I Do For Correction In Valuation of Each Item There no Qty In Stock.

Thanks,

Srujal Patel