Hallow Friends,
Pl. tell the procedure and calucation formula for valuation for closing finished stock and work in progress.
thanks
Ram Kishan
Menu
valuation of finished stock and wip
Replies (3)
As Per AS 2 issued by ICAI Closing Stock has to valued at FIFO or on Weighted average. LIFO is not recomended.
Please see this link
Thanks for this valuable article
Recent Threads
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
Related Threads
CAclubindia
