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
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Valuation of inventories accounting ocean
Replies (2)
Quick Summary
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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