Accountancy, asked by prinku89, 1 year ago

Valuation of closing stock

Answers

Answered by sachinarora2001
2
Opening stock + COGS+purchases = closing stock...

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Answered by sujiritha95
3

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..!!!

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