Adjustments for consumable stores on hand

Video Overview

When a business buys physical products in order to resell to customers we refer to this as inventory or trading inventory; but businesses can also buy physical products in order to consume or use up in the general running of the business. These consumables could include stationery, cleaning materials or any other similar such supplies that are not meant to be resold to customers. Should a business treat such consumables as expenses or as assets? This tutorial will answer that question.

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