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valuation of stock in trade in case of real estate business

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(Querist)
14 July 2011 My query is that what is the method of valuation of closing stock in case of business of real estate.
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U S Sharma

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U S Sharma (Expert)
14 July 2011 at cost or at realisable market value which ever is lower.
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hshivakumar

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hshivakumar (Expert)
15 July 2011 you have follow AS-7
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