As2
This query is : Resolved
27 October 2012
Net Realisable Value - It means the estimated selling price in ordinary course
of business, less estimated cost of completion & estimated cost necessary
to make the sale.
Kindly let me know some examples of Estimated Cost of Completion in NRV??
what i understood with estimated cost necessary to make the sale is selling cost incurred to make the product saleable.
Best Regards,
Piyush Goel
of business, less estimated cost of completion & estimated cost necessary
to make the sale.
Kindly let me know some examples of Estimated Cost of Completion in NRV??
what i understood with estimated cost necessary to make the sale is selling cost incurred to make the product saleable.
Best Regards,
Piyush Goel
28 October 2012
As 2 speaks about valuation of inventory and there are several methods to value the same but generally it is COST OR MARKET VALUE WHICHEVER IS LOWER. Now, which cost? If you have purchased the inventory with the borrowed funds then add the borrowing cost, Rented go down for keeping inventory then add it like this the cost is to be calculated.
28 October 2012
That's Ok Mr. Aggarwal but what is cost of completion in NRV calculation??
28 October 2012
Example of Cost of Completion of sale is If you sold the goods through agent based on the Commission, that commission amount will be cost of completion of such sale which will be deducted from sale value for arrive NRV
28 October 2012
thanks for your reply.
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