Question

Valuation of closing stock

Answer 1

Opening stock + COGS+purchases = closing stock...

Answer 2

valuation of closing stock

as per "accounting standard -2" closing stock should be valued at cost or net realizable value whichever is lower .

In the context of inventory, The net realizable value (NRV) of an asset is the money a seller expects to receive for the sale of an asset after deducting the costs of selling or disposing of the asset.

This has been valued based on conservatism accounting concept .

Hope its useful..!!!