valuation of inventories when bank loan taken
This query is : Resolved
25 August 2016
when loan to be taken from the bank than is closing stock to be valued at cost for calculation of profit to be disclosed to banks overuling the principle that stock should be valued at cost or nrv whichever is less.
Amol S Joglekar
(Expert)
26 August 2016
you can give the statement containing both the values.....cost as well as selling price....
The bank has to take the call depending upon the situation...
The bank has to take the call depending upon the situation...
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