Closin Inventory Valuation
This query is : Resolved
28 March 2009
Hellow,
Please let me know how an approved government values stock of inventory? On what basis they calculates the Prices of an inventory?
In one case they have adopted Avg Price Per Unit...What it mean? Is it a Cost P.U or Mkt Value P.U
Also let me know the citetion where Avg price is adopted as Mkt value
Please let me know how an approved government values stock of inventory? On what basis they calculates the Prices of an inventory?
In one case they have adopted Avg Price Per Unit...What it mean? Is it a Cost P.U or Mkt Value P.U
Also let me know the citetion where Avg price is adopted as Mkt value
30 March 2009
cost or market value which ever is less
wat ever might be the situation u should consider the lesser price
wat ever might be the situation u should consider the lesser price
30 March 2009
Sir,
Please also let me know the citetions where Stock valued by approved valuer at avg cost is not accepted by appelate authorities.
Please also let me know the citetions where Stock valued by approved valuer at avg cost is not accepted by appelate authorities.
01 April 2009
As per AS-2, it is not said that Cost or Market Price Whichever is less.
As-2 suggest the various ways to value the stock, where it is one of the method.
Where stock is valued by approved valuer, it indicates that company doesn't have their specific policy to value closing Stock.
You have to give a support back up as to why avg price is being adopted to authority.
As-2 suggest the various ways to value the stock, where it is one of the method.
Where stock is valued by approved valuer, it indicates that company doesn't have their specific policy to value closing Stock.
You have to give a support back up as to why avg price is being adopted to authority.
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