Hello
I am using Tally 7.2 and maintaing quantitative details of stock items ( maintaing account with inventory). Now my problem is that how to change closing stock valuation to market price on 31st march. To clarify this I will give one example.
Purchae Item 'A' - Quantity 100 , Rate Rs. 10/- per piece. , Total Purchase Price Rs. 1000/-.
Tally shows closing stock value on 31st march as Rs. 1000/-. but on 31st march market price was only Rs. 9/- per piece. Method of stock valuation followed is 'Cost or Market Price whichever is lower'. How to reflect it in Tally. How to change closing stock value in Tally. I know how to chamge Opening Stock Value but not closing stock value.
Plese help me.
CAclubindia
