Dear Sir/Madam
I currently have a question about inventory.
So for now my current value of inventory is $1000 but my cost of this inventory is just $800. This $200 where should it go?
I understand that inventory should be record lower cost or NRV only, but for this case is it possible to have Inventory revaluation reserve? or I can just ignore it?
M N Rao & Associates LLP
Vijayawada
CA Inter
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ADY & CO.
New Delhi
Graduate (Any)
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Abic and Mani Chartered Accountants
Kottayam
B.Com
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CCI
Pro
CAclubindia
