Valuation of inventory
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2011
In the given situation what rate should be taken for closing stock valuation on 31st March which is the FY ending date.
1-Import of Raw material @ rate on 15th Jan USD- 46.00
2- Payment date @ rate USD-50.00 on 15th February.
Thanks & Regards
1-Import of Raw material @ rate on 15th Jan USD- 46.00
2- Payment date @ rate USD-50.00 on 15th February.
Thanks & Regards
U S Sharma
(Expert)
31 May 2011
if you have booked forex diff in P/L then @46
if you have booked forex diff in purchase on payment basis, then @50
if you have booked forex diff in purchase on payment basis, then @50
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