Valuation of closing stock available at warehouse
This query is : Open
chitta sarangi
(Querist)
25 June 2021
A company sends some materials to its warehouse and incurs freight which is subsequently recovered from the buyer separately.
Whether such freight is to be included in cost or NRV or both for valuation of stock purpose.
Whether such freight is to be included in cost or NRV or both for valuation of stock purpose.
CA Altamush Zafar
(Expert)
25 June 2021
When such freight is recoverable separately it will not form part of value of stock.
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