PDA

View Full Version : Donation of inventory


Kork Little
Sep 22, 2008, 12:45 PM
I am going to donate inventory that has appreciated in value. I know I debit donations $1,500 and Credit Inventory $750 (original cost) but then what?

AdamUTsel
Sep 23, 2008, 06:53 AM
You would recognize a loss on the donation for the difference between the fair value and the cost of the asset.