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Inventory valuation

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CHAITRI SUDHAKARBHAI KHAROD

ARTICLE

752 Points Posted on 04 February 2021

as we know that inventory valuation is made with the method of FIFO LIFO and WEIGHTAGE AVG.

but my question is....when clients send us data for accounting, then which documents will be useful for valuation and recording of inventory??? how we can know the price at particular time????

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Quick Summary

This discussion explores inventory valuation methods like FIFO, LIFO, and weighted average. It addresses the crucial question of which client documents are necessary for accurate inventory valuation and recording in accounting. The consensus suggests that following the client's inventory register is the key to determining prices at a particular time.