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Closing stock

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(Querist)
06 July 2012 how is the closing stock valued?
in the case of direct selling items such as laptops,televisions,etc....it is not much difficult to calculate,but what about the items such as wood,plywoods or a firm dealing in glass?

thanking you in advance!!!!
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CA Sripal Jain

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CA Sripal Jain (Expert)
06 July 2012 AS-2 doesnt apply to forest products,so they must be valued to the extent at NRV,lets wait for others opinion on this

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