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Obsolete inventory

Asked Oct 21, 2008, 07:33 AM — 1 Answer
The inventory was noted in an audit process. How do I adjust my inventory to reflect that obsolete raw material? Does it have to be written-off?

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MF Controller Posts: 25, Reputation: 5
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Oct 22, 2008, 10:14 AM
Yes take a loss against your inventory reserves
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