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