Exposure draft on AS 2
This query is : Resolved
06 January 2009
As per AS - 2, inventories shall be valued at the lower of cost and NRV
Exclusions from the cost of inventores:
(1) abnormal amount of wasted material, labour or other production cost,
(2) storaeg costs unless those costs are necessary in the production process to further the production stage,
(3) administration overhead that donot contribute for bringing the goods to the present condition and location; and
(4) selling and distribution costs;
What is "distribution cost" in the above clause ?
Exclusions from the cost of inventores:
(1) abnormal amount of wasted material, labour or other production cost,
(2) storaeg costs unless those costs are necessary in the production process to further the production stage,
(3) administration overhead that donot contribute for bringing the goods to the present condition and location; and
(4) selling and distribution costs;
What is "distribution cost" in the above clause ?
26 November 2010
Distribution cost is the cost of distributing the manufactured product. For example the cost of distributing the medicine includes the cost of samples which are distributed free to the Doctors, commission paid to the stockists (wholesalers & retailers)etc.
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
- Post Office RD Interest
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Income of an individual
- Delisted shares sold in off market/ Rebate u/s87A
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
