David Tangye wrote:
On Fri, 2006-09-22 at 22:20 -0400, Alejandro Imass wrote:If the company uses "notes of credit" as we call them here, then the merchandise should return at last cost (it's like buying the merchandise).Hmm that is interesting. I do not think business people I know would 'buy back' at last cost if the the item in question originally cost less. They would more likely buy back at the lowest price, but it would be a business decision based on balancing goodwill against the profit imperative. Either way I am pretty sure that it is not an issue of accounting best practices at all.
If I purchase something from vendor a, and then return it, I expect to get the exact amount of the purchase back.
The only exception to that is in the case of restock fees which some vendors charge.
Joshua D. Drake
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