A stocktake revealed more inventory on hand than the ledger showed

Some inventory purchased from a supplier was faulty so it was returned for credit

Recording the cost price of products returned to the business by a customer 

A business sold products to customers on credit 

Recording the cost price of goods sold to customers on credit 

A customer returned a product to the business for a cash refund 

Inventory was purchased from the supplier on credit

Some inventory was found to be damaged and was written down to its net realisable value