Dear freinds
I have a query regarding valuation of non-moving stock, suppose if a Quantity of stock is valued @ RS 140 assume for example for FY 2008-09 & again for FY 2009-10 can that be valued at @ RS 150, according to Market value (NRV), & assume cost of that stock in FY 2008-09 is RS 200/-, is this method in accordance with AS-2
Regards
Shashank
non moving stock valued at cost only
Arpan Bohra & Co
Hyderabad
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
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M N Rao & Associates LLP
Vijayawada
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