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Briefly explain about Stok valuation.

Answer Posted / jagannath c v

In Stock valuation, Raw Material are valued at
FIFO,WEIGHTED AVG depending up on valuation adopted by each
company. WIP ARE VALUED RAWMATERIAL PLUS
CONVERSION COST AND FINISHED GOODS ARE VALUED AT COST OR
NET REALIZATION WHICH EVER IS LEAST AS PER ACCOUNTANT
STANDARD 2.

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