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Experts Query Daily Digest :19 March 2024



19 March 2024 at 09:22
Posted On : 19 March 2024

ReG: Wip and Fg Valuation

Dear Sir,

We are in Granite Manufacturing Company. As Finalisation Process we are valubing F.G. as 90% of sale value and Wip as 65% of sales Valu ..! Our F.g. is the goods ready for sale just waiting for approval. And our Wip always remains in 2 out of 7 process. Apart from above we normally sold Good in Fg in first. We are producing in terms of containers as 50 means we sold 10 to 20 of last month F.g and 15 containers from curent production ...! Kindly let me know if our valyation towards Wip and Fg is correct and if not How to Valye in this scenarios