Give three examples of normal losses
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Posted by Mohan Rawat 6 years, 10 months ago
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Yogita Ingle 6 years, 10 months ago
The normal loss means loss which is inherited and can not be avoided. It should also be considered while valuing the closing stock.
or example: If a certain amount of oranges are consigned, some of them will be destroyed in loading and unloading whereas some of them will not be in a state to be sold. Suppose, 10,000 oranges were sent to the consignee at ₹30 per kg and freight of ₹60,000. It is known that there would be a normal loss of 10%.
Cost per kg = (300000 + 60000) / 9000 (i.e. 10000-10% of normal loss) = ₹40
If unsold quantity is 500 its value will be (500*40=20000).
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