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Post# of 52991
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tigerpac

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tigerpac

Re: Randy1111 post# 52536

Tuesday, 04/26/2022 9:28:13 AM

Tuesday, April 26, 2022 9:28:13 AM

Post# of 52991
First off we haven't seen Foreverboard's books.

Inventory is an asset. If it becomes obsolete and has to be written down , the company will have to Credit (decrease) the Inventory account and Debit (increase) the Cost of Good Sold.

So yes, writeoff's can occur even when a company doesn't make any money or has no sales.
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