Used/Remarketed Cars—Reconditioning—Wholesale

Sales and Cost of Sales

USED/REMARKETED CARS—RECONDITIONING—WHOLESALE	COST OF SALES ACCOUNT
	4711-4807

Cost of reconditioning used and remarketed cars sold to wholesale customers.

*Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers

			Jrnl.	Dr.	Cr.

Costing of used car sold to wholesale customer			UV
	Cost of Sales—Used Cars—Wholesale			4710
	Cost of Sales—Used Cars—Reconditioning—Wholesale			4711
		Inventory—Used Cars			1350

Costing of remarketed cars sold to a wholesale customer			UV
	Cost of Sales—Remarketed Wholesale Cars			4805
	Cost of Sales—Remarketed Cars—Reconditioning—Wholesale			4807
		Inventory—Remarketed Cars			1355

Reconditioning costs on used and remarketed cars in inventory should be charged initially to appropriate inventory Account 1350, Used Cars or Account 1355, Remarketed Cars, and recorded on the used vehicle inventory record. When used or remarketed cars are wholesaled, the inventory value, excluding reconditioning costs, of the units should be charged to the appropriate cost of sale Account 4710, Used Car—Wholesale or Account 4805, Remarketed Cars—Wholesale, and reconditioning costs should be charged to these accounts.