General question
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 September 2011
Inventories are valued on what basis as per Indian accounting standard
a) LIFO
b) FIFO
c) Weighted Average
d) Piece Rate
a) LIFO
b) FIFO
c) Weighted Average
d) Piece Rate
praveen sisodia
(Expert)
30 September 2011
weighted average
30 September 2011
Agree with expert
RG - A Helping Hand
(Expert)
30 September 2011
Yup.
expert is right
expert is right
CA Pushpendra Gaur
(Expert)
01 October 2011
hey guys FIFO is also allowed as per indian accounting AS
CA Pushpendra Gaur
(Expert)
01 October 2011
piece rate is also allowed, if it means that individual product value at a time similar to specific pricing method
CA Ravi Sisodia
(Expert)
01 October 2011
AS -2 ALLOWED BOTH METHODS e.i. FIFO
AND Weighted Average
AND Weighted Average
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