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Valuation of Closing Stock of Import Purchase

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 February 2011 Whether we have to take into consideration of Foreign Exchange Fluctuation on Closing Stock of Import Purchase lying with us on 31st March?

Import Purchase is fully paid out and nothing is outstanding to pay.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
06 February 2011 Inventory is non monetary items , ERV will not apply on this.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 February 2011 will u pls provide any reference regarding this so can i study it.
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