Hallow Friends,
Pl. tell the procedure and calucation formula for valuation for closing finished stock and work in progress.
thanks
Ram Kishan
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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
/articles/article_list_detail.asp?article_id=281
Thanks for this valuable article
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