Goods that has been sold but not yet recorded in the accounts should not be included in the physical inventory at year-end.

Question

Quizplus · Accepted Answer

Goods that have been sold but not yet recorded in the accounts are not part of the inventory, as they have already left the company's possession. Only goods that are physically present and owned by the company at the year-end should be included in the physical inventory count.

Goods That Has Been Sold but Not Yet Recorded in the Accounts