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MPR sanjay Kumar (CA student)     14 February 2021

cost of goods sold & net realisable value

what is mean by net realizable value and cost of goods sold..

 3 Replies

prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     14 February 2021

1) Net  realizable value is  estimated  selling price of goods , minus the cost  of their sale . 

2) Cost  of Goods sold =   Oping  stock  + purchase - closing stock . 

MPR sanjay Kumar

MPR sanjay Kumar (CA student)     14 February 2021

Give an example for this two terms and case studies plse
yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     15 February 2021

Cogs= https://www.mca.gov.in/SearchableActs/Schedule3.htm

Nrv= https://cleartax.in/s/as-2-inventories-valuation

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