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(Querist)
16 February 2013 Hi ,

If we have inventory of Rs.100 & its market value is Rs.80 thn what would be the entry at which cost .

& what should we do with the difference of both amount (Rs. 20).

Please help,

Thanks & regards
Priyanka
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kodiya mohammed asif

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kodiya mohammed asif (Expert)
16 February 2013 As per principal of conservatism , it should be valued at cost or market value whichever is less.

There will be no entry for 20

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