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Inventory is valued by: a. cost price b. sales price c. market price d. cost or market price which is lower e. cost or sales price which is lower?

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Question ajoutée par SHAIKH MOHAMMED BASHEER AHMED SHAIKH , Account Manager , Tarik Al Zahid Holding Company
Date de publication: 2014/03/29
syed waseem Iqbal
par syed waseem Iqbal , Senior Accountant , Pacific Exim (pvt) ltd

cost or nrv ehich ever is lower

Yusuf Dalal
par Yusuf Dalal , General Accountant. , Gmamco Contracting LLC

Answer is D : Cost price of market price whichever is lower..

 

 

Rajesh Pandey
par Rajesh Pandey , Finance Head , Travel Point LLC & Travel City LLC (Group)

d. cost or market price which is lower As per Accountinf Standards

Majid Rehman
par Majid Rehman , Manager Reporting and Taxation , Ahmed Fine Weaving Ltd

Is is valued at lower of cost or NRV(Net Reliasable Value).

Murtada Mohammed
par Murtada Mohammed , Group Finance Manager , AgroPower Industrial Group

The correct answer is No. D: Cost Price or Market Price whichever is lower

Anayatullah Tahir
par Anayatullah Tahir , Finance Manager , Etqan Projects

Answer D is correct

The inventory must be valued at cost or market value what ever is lower.

Ahmed Abd Alwahab Awad Ibrahim
par Ahmed Abd Alwahab Awad Ibrahim , Chief Accounting , ICCDP

Number d. cost or market price which is lower

Divyesh Patel
par Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

D is the answer

VIJIT RAJORIA
par VIJIT RAJORIA , Consultant , Capgemini

D. COST OR MARKET PRICE(NET REALISABLE VALUE) WHICH IS LOWER

TARIT KANTI DUTTA
par TARIT KANTI DUTTA , Assistant GM- Finance and Accounts , Top Steel Nigeria Ltd

The prudent practice and as per Accounting Standard, Inventory should be valued at Cost or Market price whichever is lower.

But for the purpose of Management reporting, in case of there is increase in valuation of Stock, then it can be termed as Opportunity Cost and the quantum of such gain should be reported. e.g A company having "X" Material of1000 Pcs in stock, Cost price being10 per unit and market price12 per unit. In this case, For accounting purpose , the inventory will be valued at10000.00 and for Management reporting purpose, inventory will be valued at10000.00 and unrelized gain will be2000.

Mir Afzal Ali
par Mir Afzal Ali , Senior Accountant , Archen Engineering Consultants Co

d. Cost Price or Market Price whichever is lower.

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