Respuesta :
When inventory sales and purchases are recorded in the same account (i.e., same counterparty), the transaction will automatically settle on its own. As a result, accounting for inventory purchases and sells with the same counterparty is comparable to accounting for other non-monetary exchanges.
What is a inventory?
All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory. Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilises a vehicle to distribute newspapers to clients. The car will be considered an asset. Despite the fact that there are other sorts of inventory, the four primary ones are maintenance, repair, and operational supplies, finished goods, work-in-progress, and raw materials and components. The products or materials in inventory are those that a company plans to resell to customers for a profit. Tracking inventory from producers to warehouses and from these locations to a point of sale is inventory management, a crucial component of the supply chain.
Hence, When inventory sales and purchases are recorded in the same account (i.e., same counterparty), the transaction will automatically settle on its own. As a result, accounting for inventory purchases and sells with the same counterparty is comparable to accounting for other non-monetary exchanges.
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