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Valuation of Closing Stock

This query is : Resolved 
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(Querist)
28 March 2009 Hellow,

Please let me know how an approved government values stock of inventory? On what basis they calculates the Prices of an inventory?

In one case they have adopted Avg Price Per Unit...What it mean? Is it a Cost P.U or Mkt Value P.U
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ANKIT

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ANKIT (Querist)
30 March 2009 o
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
30 March 2009 cost or market value which ever is less


wat ever might be the situation u should consider the lesser price
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