in investment a/c's generally if the qn doesnt state the method of valuation of invsmt, should we value in Avg cost or FIFO method..?!
6 Replies
jitendra chawla
(F.C.A.)
(327 Points)
Replied 01 May 2010
as per AS 13- AVG., but if shares held as stock in trade avg or fifo both allowed
Pradip Narsingani
(Income Tax & GST Consultant/ CA-Final)
(572 Points)
Replied 01 May 2010
FIFO is easy to use but as per AS 13 average.. you can use both of them which is easy for you
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