Let’s say you buy 100 pens. Now, you find that the value of the pens has decreased in the market. The new value of each pen is Rs. 9. In such a case, you would need to write down the value of the pens from Rs. 10 to Rs. 9. The total value of the pens would now be Rs. (90*10) i.e. Rs. 900.
One solution for your accounting and GST filing needs