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Valuation of inventory

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 March 2014 Please tell me the best way to value Inventory
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 March 2014 you need to follow AS-2...thats the best manner..
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 March 2014 Can I take simple moving average to value inventory
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 March 2014 Fifo is better then any other method subject to products and industry to which it pertains to.
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 March 2014 Our company is using SAP, in which Simple average price method is followed.

Is it not right?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 March 2014 Dear friend, you may use whatever method you wish to. But your auditor is going to follow Accounting standards and accordingly ask you to re-do the work
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