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Costing: materials chp.

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(Querist)
26 May 2014 in terms ofvaluation of stock incase of valuing issues after recording receipt of goods, do we assume LIFO method of valuation if nothing is specified in the question or can we actually use any method? by default, which method to be used in exams?
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Guest (Expert)
26 May 2014 for exam purpose...

you must write in notes that as no specific mthod is given you are using this or this method for valuation purpose of stock
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Rupesh Jain

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Rupesh Jain (Expert)
27 May 2014 you can use any one method for valuation practally it is use as follow in last year.
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