Can any one explain?
what is the procedure practically followed by a manufacturing concern to calculate the value of semifinished goods (i.e. work-in-progress).
2 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 24 December 2007
according to AS-2
Semi-Finished Goods are valued at cost and Work-in-Progress relating to
contracts is valued at estimated net realizable value.
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