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Learning Objectives

After studying this unit, you will be able to:

  1. Understand meaning and features of consignment business.
  2. Learn the terminologies used in consignment business
  3. Understand the accounting treatment of consignment in the books of consignor and consignee
  4. Appreciate the concepts of Invoice price and Loading
  5. Calculate the closing stock, normal/abnormal loss
  6. Calculation of closing stock, normal/abnormal loss and commission

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