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    jnelson07's Avatar
    jnelson07 Posts: 1, Reputation: 1
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    #1

    Jul 29, 2011, 12:11 PM
    Inventory adjustment journal entry?
    Need help. My client is a distributor and there fore orders in product to then sell to retailers. This inventory is not paid for until the Retailer pays for it. Therefore we do not want to have on our balance sheet an inventory valvue as it is still truly our vendors product until paid. How can I record this as I still need to enter a PO request which Dr Inventory and Cr A/P?
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
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    #2

    Jul 29, 2011, 11:41 PM

    I think this is what concerns you:

    Ready for IFRS: IAS 2 Inventories, how and when to determine the ownership of goods
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