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closing stock valuation
best method to follow in tally is to do closing stock valuation manually or automatically?
Replies (3)
fifo allowed by our government
you can use FIFO or Weighted average method.
If you have knowledge about Production Accounting (Process Accounting) in Tally(In case of Manufacturing Industry), then its better to go away with Tally Automatic Stock Valuation. Other wise, Manual Stock Valuation under FIFO or Weighted Average Costing Method is preferrable.
In case of Trading Industry, u can follow automatic stock record in tally, since its not very difficult to maintain.
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