AS - 11

With reference to AS - 11, I have little doubt-

Suppose, I have agreed to import goods of 100$ and made advance payment on 31.07.2009 and on that date exchange rate was Rs. 45/-. Hence I paid Rs. 4500/- for import. At the time of delivery of goods party sent me invoice of 100$ dated 4.08.2009 and exchange rate is Rs. 44/-.
In above situation which of the following two option is viable??

1) At the time of advance payment I pass entry by Rs. 4500/-, at the time of import I take purchase entry by Rs. 4400/- and recognise Exchange difference loss by Rs. 100/-

2) At the time of Advance payment as well as at the time of import, I pass entry by Rs. 4500/- directly.

In both the case my profit will be same.

Which method is viable??? Is it necessary in above situation to pass entry for exchjange difference? Is AS-11 applicable to above situation??

Please provide your valuable guidance with reason.

Thanks

Komal Savaliya