Closing Stock is Valued at 'COST Price' or 'MARKET Price' whichever is LESS... why ?
Menu
Stock valuation
Replies (1)
Paragraph 5-measurement of inventories.
The valuation of inventory at lower of cost and net realisable value is based on the view that "no asset should be carried at a value which is in excess of the value realisable by its sale or use"
Accounting policy-"prudence" is applied here..
Recent Topics :
- One time commission filing in ITR2
- 600128 HSN rate
- Social Security benefit from US by resident
- E-way notices
- Itr form for Salary income, Interest, Dividend And
- Will my TDS be deducted as NRI?
- PENSION ARREAR RECEIVED - EPS 95 SCHEME
- Processing of Form 144 (prev 27Q)
- Capital Gain on sale of Vacant Land- Whether Demol
- Hello dear I want help .
Related Topics :
CAclubindia
