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Querist : Anonymous

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Querist : Anonymous (Querist)
30 September 2011 Inventories are valued on what basis as per Indian accounting standard
a) LIFO
b) FIFO
c) Weighted Average
d) Piece Rate
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praveen sisodia

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praveen sisodia (Expert)
30 September 2011 weighted average
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
30 September 2011 Agree with expert
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RG - A Helping Hand

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RG - A Helping Hand (Expert)
30 September 2011 Yup.

expert is right
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
01 October 2011 hey guys FIFO is also allowed as per indian accounting AS
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
01 October 2011 piece rate is also allowed, if it means that individual product value at a time similar to specific pricing method
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
01 October 2011 AS -2 ALLOWED BOTH METHODS e.i. FIFO
AND Weighted Average

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