On 31 March, 2007, inventory code AXN-205 had 1,000 items in inventory. The original cost of this
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On 31 March, 2007, inventory code AXN-205 had 1,000 items in inventory. The original cost of this inventory was ₹ 4,600. Alternative valuations were obtained at 31 March, 2007 for this inventory item. Which value should be used in the accounts at 31st March, 2007 as per AS-2?
A. Original cost ₹ 4,600
B. Replacement cost ₹ 3,200
C. Net realisable value ₹ 3,400
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
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2nd Edition
Authors: M Hanif, A Mukherjee
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