Valuation of closing stock.
Sunil (Student) (48 Points)
03 November 2016
whether the freight inward taken in the trading account, will also be taken to evaluate the closing stock.
1 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 03 November 2016
Amount of freight incurred to bring the inventory to its location will be included in the cost of the inventory. Refer to Para 6 & 7 of AS-2, Valuation of Inventories.
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