Hello all
If finished good are valued at nrv then raw materials should be valued at replacement cost.
What if RM cost 140 and Replacement cost is 170?
Should we still take 170 for valuation of closing stock of RM?
D20BFS036-Harshavardini K.B (7 Points)
09 September 2024Hello all
If finished good are valued at nrv then raw materials should be valued at replacement cost.
What if RM cost 140 and Replacement cost is 170?
Should we still take 170 for valuation of closing stock of RM?
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(4292 Points)
Replied 12 September 2024
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(4292 Points)
Replied 12 September 2024
D20BFS036-Harshavardini K.B
(7 Points)
Replied 13 September 2024
Thank you so much for spending time to resolve the doubt. Means a lot, Now i got clarity about the concept behind it.
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