Question ID :
40526
Valuation of Closing Stock
Sir, one of our client has entered into manufacturing activities in that he will be using raw material in kg some in Meters and some in liters to bring the final product. We are facing a problem how to value the closing stock. kindly guide
Posted by
VIPIN GUPTA
on
Jan 03, 2020
Filed Under
MISC.
to value each separately
Posted by
SIVADAS CHETTOOR on
Jan 21, 2020
Answer ID :
80374
It is quiet common for every Manufacturing Unit. We all know many finished products are made of hard, soft, liquid material which is measured in Kilograms, Litres, Metres etc. Hence consumption of all material will be taken to one head for each Finished Product and costing will be carried out based on number/kgs/litres/metres of finished product that is produced.
Posted by
Rupakula Rajasekhar on
Jan 28, 2020