what entries are required

I have a lot (value£) of ‘free’ stock and the sale (inventory value is high)

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I have a lot (value£) of ‘free’ stock and the sale (inventory value is high)  I don’t know what entries are required in the accounts.  Could someone please help? TU  

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By johngroganjga
28th Feb 2017 22:33

What do you mean by "free" stock?

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By chrissyW
28th Feb 2017 22:44

Thank you.. a new company wants us to sell their stock as a teaser to use them as a supplier. Sale or return doesn't apply. its our stock to keep

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Replying to chrissyW:
By johngroganjga
28th Feb 2017 22:48

So the cost of the stock is £Nil.

What did your last accounts say your company's accounting policy on the valuation of stock was?

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By chrissyW
28th Feb 2017 22:54

first year of trade

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Replying to chrissyW:
By johngroganjga
01st Mar 2017 07:41

So what WILL the company's accounting policy for stock valuation be?

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By Duggimon
01st Mar 2017 09:00

What's the difference between free stock and 'free' stock?

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By Democratus
02nd Mar 2017 09:02

Stock Acquired
Dr Stock £0
Cr Creditor's Ledger £0

Stock Sold
Dr Cost of Sales £0
Cr Stock £0

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By CJaneH
01st Mar 2017 11:57

Lower of cost or net realisable value.

ie value nil till sold

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