Ok, strange question. I know if you take stock for personal use it is at retail price. However, I am doing a bit of work for a pet shop who use some stock (hay, feed etc) for animals which they keep to sell.
I am assuming that I would just transfer stock to expenses, but at what value? Cost or retail?
If businesses were allowed to sell their own stock to themselves retail then that would destroy the usability of financial statements which would not give a true and fair reflection of the entities affairs.
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Shaun
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