NRV of stock
This query is : Resolved
14 December 2009
As per AS-2 inventory is value at cost or NRV which is less. So, if cost=10/- p.u. & NRV=7/- p.u. & qty=10000 units. Please suggest me journal entry in book of account for valuation of inventory at NRV.
14 December 2009
Closing Stock A/c Dr 70,000
To Trading A/c
To Trading A/c
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