Basic query in accounting
This query is : Resolved
01 October 2013
Raw material inventory of a company includes certain material purchased at Rs 100 kg.The price of the material is on decline and replacement cost of the inventory at the year end is Rs 75 per Kg.It is possible to convert the material into finished product at conversion cost of Rs 125.Expected Selling price is Rs 175.
In the above problem what will be “Cost of finished Goods “and “NRV of finished Goods”?
I will be very much thankful to you.
In the above problem what will be “Cost of finished Goods “and “NRV of finished Goods”?
I will be very much thankful to you.
02 October 2013
If there is Raw Material in hand then it will be valued at 50 (nrv=175-125)
Finished goods shall be valued at 175 being lower of cost or nrv
Finished goods shall be valued at 175 being lower of cost or nrv
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- TDS related Query_Liquidated Damages
- What is provisional receipt number for generation of form 16A
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
