In the allowance method, i would have expected the adj of 609 to go to other income and expenses not the COGS line. Therefore, i suppose there will be a difference in the P&L line for both methods, One will hit COGS so gross profit will be impacted, and with the other one, impact will be below GP line
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In the allowance method, i would have expected the adj of 609 to go to other income and expenses not the COGS line. Therefore, i suppose there will be a difference in the P&L line for both methods, One will hit COGS so gross profit will be impacted, and with the other one, impact will be below GP line
Excellent explanation thanks
You are welcome! Wat are you studying for? Please connect with me: linktr.ee/farhatlectures
Is it right if I'm crediting Recovery of Inventory Loss instead of Gain or Other Revenue?
It is the naming of the account but it is about the type of the account that you are using.
@@AccountingLectures Okay, thank you, Sir