Closing stock of by-product

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Chartered Accountant
7550 Points Joined November 2013

How will we value closing stock of by product? when we are valuing closing stock of finished goods @ cost

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On 14 April 2021 at 19:14 Report
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Chartered Accountant
24588 Points Joined November 2019
The valuation of closing stock of by products shall be calculated after deducting the joint cost expenses.
And it should be valued at cost or nrv whichever is lower.
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On 14 April 2021 at 19:46
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Chartered Accountant
7550 Points Joined November 2013

What if I am unable to bifurcate my costs between finished product and by product?how should i deduct costs from by product?

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On 14 April 2021 at 20:27
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24588 Points Joined November 2019
Cost should be allocated as per production units
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On 14 April 2021 at 20:30
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2742 Points Joined October 2018
Https://www.accountingtools.com/articles/2017/5/14/by-product-costing-and-joint-product-costing
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On 15 April 2021 at 08:41


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