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Answer Posted / h.r. sreepada bhagi
Calculation of value of Inventory at any given date by
applying unit rate to each of the Inventory item is called
Stock Valuation. Inventory should be valued at Cost or Net
Realisable Value (Market Value) whichever is lower.
Inventory Valuation is guided by the Accounting Standard
applicable to the country concerned. In India AS-2 Valuation
of Inventories, issued by ICAI guides how to value Stock.
Inventory valuation is needed for preparation of Financial
Statements, For filing Stock Reports to Banks/Financial
Institutions, For calculation of Inventory Turnover Ratio, etc.
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