Is Valuation of Closing Stock can be done "AT COST" though it is mentioned in AS 2 dat it shud be valued at Cost or NRV w.e. lower,,,,,,,,,,,,???
CA Parag Shukla (Practicing Chartered Accountant) (153 Points)
23 August 2010Is Valuation of Closing Stock can be done "AT COST" though it is mentioned in AS 2 dat it shud be valued at Cost or NRV w.e. lower,,,,,,,,,,,,???
madhur gupta
(student/article )
(1022 Points)
Replied 23 August 2010
For income tax purposes u may value it at normal accounting practice even it reluts in at COST only.........
CAclubindia
