shalu naredi (accountant) (25 Points)
23 July 2015Whether Demurrage cost included in inventory valuation ? If yes which is the accounting standard that says that and what is the interpretation?
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 23 July 2015
All cost incurred in bringing inventory to the present location and condition should be included in Inventory as per AS-2.In your case if this demurrage cost is necessary in bringing your inventory to the present location then include the same in your inventory cost
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