Accountancy, asked by pravin6589, 1 day ago

which value of inventory will be taken at the time of valuation

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Answered by NOTAXID

Answer:

This accounting standard is applicable to all companies irrespective of their level (Level I, II and III). This standard prescribes the accounting treatment for inventories and sets the guidelines to determine the value at which the inventories are carried in the financial statements.

It explains the different methods of accounting the inventory or closing stock which has a huge impact on the business revenue and the assets. Topics discussed in this article: In this article, we cover the following topics:

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