how to calculation realisation value of clossing stok
eg: opening stock value is 1000 purchase this year value 500 sale value is 400 clossing value is tally show 1100 we want realisation value of clossing stock
2 Replies
Ayyswariya RG
(Knowledge Seeker)
(3711 Points)
Replied 20 March 2013
Net Realisable Value of stock is the net sale realisation (Market price) excluding all the expenses directly and exclusively relatable to the sale (Sale commission, Brokerage etc) from the Sale Realisation.
As Per Accounting standard 2, Inventories shall be measured at the lower of cost and net realisable value.
Rs 11000 which is arrived represents the cost of closing stock.
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 20 March 2013
U can check the quality of stocks
check the recent invoice prices of stock
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