Please discuss about the methods of Inventory Valuation:
1. Warehouse Inventory (Raw Material)
2. WIP Inventory (Stock in process)
3. FG Stock Inventory
Lets start discussion..
Regards,
Purushottam
CMA Purushottam Deshmukh (Executive Costing) (180 Points)
11 March 2013Please discuss about the methods of Inventory Valuation:
1. Warehouse Inventory (Raw Material)
2. WIP Inventory (Stock in process)
3. FG Stock Inventory
Lets start discussion..
Regards,
Purushottam
CA Virendra Agrawal
( osiris group)
(22 Points)
Replied 12 March 2013
DEAR PURUSHOTTAM,
RM IS VALUED AT COST,
WIP IS VALUED RM.COST +COST AT THE STAGE OF COMPLETION (SUCH AS LABOUR & OVERHEAD)
F.G -IS VALUED AT COST & MKT VALUED WHEACHEVER IS LOVER
AS PER ICAI ,AS -2
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