Exposure draft on AS 2
This query is : Resolved
06 January 2009
As per AS - 2, inventories shall be valued at the lower of cost and NRV
Exclusions from the cost of inventores:
(1) abnormal amount of wasted material, labour or other production cost,
(2) storaeg costs unless those costs are necessary in the production process to further the production stage,
(3) administration overhead that donot contribute for bringing the goods to the present condition and location; and
(4) selling and distribution costs;
What is "distribution cost" in the above clause ?
Exclusions from the cost of inventores:
(1) abnormal amount of wasted material, labour or other production cost,
(2) storaeg costs unless those costs are necessary in the production process to further the production stage,
(3) administration overhead that donot contribute for bringing the goods to the present condition and location; and
(4) selling and distribution costs;
What is "distribution cost" in the above clause ?
26 November 2010
Distribution cost is the cost of distributing the manufactured product. For example the cost of distributing the medicine includes the cost of samples which are distributed free to the Doctors, commission paid to the stockists (wholesalers & retailers)etc.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
