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As 2 problem
When goods was manufactured but sorting process is pending. As per AS 2, whether it is treated as WIP or finished goods.
Replies (2)
it's depend upon inventory policy of company.
If the goods are in such state that it can be sold in the market, it is treated as finished product as the valuation (as per AS -2) has to be done at cost or market value whichever is less. But if further processing is required for selling in the market, it has to be treated as WIP
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