Question

Q 17: As per AS, goods and services produced
and kept aside for specific projects should be
valued at
Pre-placement cost
Identified individual cost
Net realizable value
Contract price​

Answer 1

Answer:

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Answer 2

As per AS, goods and services produced and kept aside for specific projects should be valued at Net realizable value.

• Net realizable value or NRV  is the estimation of the value of goods or assets determined before the sale of the good or asset.
• As per AS 2, the Net Realizable value of a good is the value ascertained of the good prior to making the sale.
• In the due course of business, the finished goods are considered for the sale of the good.