As-2, valuation of stock
This query is : Resolved
17 May 2012
Shall we include the following in stock value :
1. clearing and forwarding agent's fees,
2. forklift charges,
3. documentation charges for clearance of goods from port
4. Transportation from port to godown of company
5. Customs duty
6. Wharfing charges
1. clearing and forwarding agent's fees,
2. forklift charges,
3. documentation charges for clearance of goods from port
4. Transportation from port to godown of company
5. Customs duty
6. Wharfing charges
17 May 2012
Hi Khyati
As per Accounting Standard of ICAI (AS-2), inventory cost should comprise of all cost of purchases, cost of conversion and other costs incurred in bringing the inventories to the present location and condition.
So you have to add all these costs for calculating the stock value.
CA.Richi Saxena
As per Accounting Standard of ICAI (AS-2), inventory cost should comprise of all cost of purchases, cost of conversion and other costs incurred in bringing the inventories to the present location and condition.
So you have to add all these costs for calculating the stock value.
CA.Richi Saxena
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