While confirming a manufacturing order, we forgot to consume one product (physically consumed). The produced finished goods were dispatched, and the invoice was also completed.
Now the costing manager is asking how to reduce the inventory and correct the COGS account.
Financial Impact should be correct.
The following is the normal financial Impact.
| Dr. | Cr. | ||
| Manufacturing - Consumption | ACRM0001 Stock of Raw Material | 340.38 | |
| ECOG0013 Change in Inventory Account | 340.38 | ||
| Manufacturing - Production | ECOG0013 Change in Inventory Account | 340.38 | |
| ACFG0001 Stock of Finished Goods | 340.38 | ||
| Delivery - FG | ACFG0001 Stock of Finished Goods | 340.38 | |
| ACRM0004 COGS Interim A/c | 340.38 | ||
| Invoice | ISAD0002 Sales | 1000 | |
| ACRM0004 COGS Interim A/c | 340.38 | ||
| ECOG0012 Cost Of Goods Sold - FG | 340.38 | ||
| GSTP0002 SGST Output On Sale/Service | 90 | ||
| GSTP0001 CGST Output On Sale / Service | 90 | ||
| ASDA0001 Sundry Debtor | 1180 |
