In my company I have imported raw material. At the closing of the year how I valued raw material. Seprate for Raw MAterial imported and domestic or Average the rate with all raw material and valued?
10 September 2009
Average rate is not the proper way. It may reduce/enhance the value of imported raw materials. So,value it separatly but you may not show it separatly like domestic or imported.
CAclubindia
