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My honourable Suraj lakhotia sir plse check me
Accountancy
For an example : If the Raw material cost is RS 500 on this raw material partly maked some goods that worth is RS 600 ( finished goods) ..here I have to value which value ??? The market price of material is RS 450 Here which price I have to valuation of inventories.. Replacement cost when I have to use?? Plse guide me
Answers (3)
CA Suraj Lakhotia Admin
What are you trying to value? If raw material - Cost If FG - Lower of Cost and NRV.
Yes sir I understood now ð???,thanks for your video link of Accounting standards....thank you so much.. ....suppose if replacement cost is lower than raw material cost we should value replacement cost? IAM I right...
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