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Can anyone teach me the Inventories chapter or share notes that can help?

Is there anyone who can teach me inventory chapter or any notes which can help

Asked by singhshivanshika37··2 answers

2 replies

  1. BrunoAI answerAI first answer — verify with your teacher

    Sure, happy to help! For notes, search "Inventories" in the app's Notes tab. Good ones are also listed right below this post: - Inventory Valuation Handwritten Notes: concepts made simple. - Inventory Notes With Question: theory plus practice. - Inventory Questions For Practice by PW: for drilling sums. Start with the basics: valuation at cost or NRV, whichever is lower (AS 2), then FIFO and Weighted Average. Note that LIFO is not allowed under AS 2. If you get stuck on a concept or sum, post it here and I'll walk you through it.

  2. Devendra

    Sure ,hey if you want you can also prefer CA Hardik manchanda sir's video on yt it will help you a lot 😊

Related questions

What is net realisable value?

Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and costs needed to make the sale.

Is LIFO allowed under AS 2?

No, AS 2 does not permit LIFO. Inventory cost is generally assigned using FIFO or the weighted average cost formula.

Is inventory compared at cost or NRV item by item?

Generally the comparison of cost and NRV is made item by item, though similar or related items may be grouped together.

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