Can someone please explain the calculation of value of inventory?
Sagar Kathuria
CA Final
★ 3K+
01-Dec-24 20:44
537
Answers (1)
The closing inventory for the month is give as 1.30 lakh. We are using the fifo method so the remaining 1.30 lakh inventory is purchased lastly. So 0.30 is taken from june 1st purchases and remaining 1 lakh is from june 30th purchases
