Valuation

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Advocate Ashish Ranjan Samal (Querist)
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13 June 2009 Dear Export,
while calculation of closing stock at tally 7.2, the valuation of closing stock is
Inward Value - outward value - gross profit = closing stock
but i am unable to under stand from where gross profit value calculate, i thing this procedure is wrong, it unnecessary ,actually closing stock is differ from my calculation
plz suggest.

vinod kumar lalwani

vinod kumar lalwani (Expert)
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13 June 2009 hi

closing stock should be calculated as under
outward value (at cost)

Less- inward value (at cost)+opening stock

closing stock