21 July 2012
Sir, In a Company in F.Y. 2010-11 Total Closing Stock is less than 50 Crore and in F.Y. 2011-12 Closing Stock is 100 Crore, I want to know that in F.Y. 2011-12 We have done valuation of closing stock at market Price or application of Accounting standard-2. Please Reply my query. Thanks
24 July 2012
Your query is not clear... However, it is not necessary that a stock in current year can not be double the stock what was in previous year....
You may like to go through the purchase and sale, also try to find if there any change in the method of valuing the stock,.
CAclubindia
