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Valuation of inventories accounting ocean

Others 300 views 2 replies
As per accounting standard to valuation of inventories or valued at lower of cost and net realiseble value...

1 .)how to value of inventory raw material

2.) how to value of inventory work in progress


3.) how to value of inventory finished goods



could you please explain me the as 2 valuation of inventory

plse guide me
Replies (2)

I think I already wrote an answer to this 1. Raw material is valued at purchase cost 

2. CWIP https://www.caclubindia.com/forum/details.asp?quote=2257138&mod_id=579968#reply

 

3. Finished goods include processing and warehousing costs. This will be better if you check your CA inter costing material. 

 

When it comes to reporting you have to add all costs 

 

 

Yes ....Thank you sir


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