https://www.taxtmi.com/acts?id=19807 Ind AS 2 mandates measuring inventories at the lower of cost and net realisable value. Cost comprises costs of purchase, costs of conversion (including direct labour and allocated production overheads based on normal capacity) and other costs to bring inventories to present location and condition, excluding abnormal, storage and non attributable administrative costs. Specific identification is used for non interchangeable items; otherwise FIFO or weighted average cost applies. impaired to net realisable value are written down (generally item by item) and reversals are recognised only to the extent of the original write down. Required disclosures include policies, carrying amounts, expense recognised, write downs, reversals and pledged inventories. en-us Thu, 04 Jun 2015 14:19:17 +0530 Wed, 06 Sep 2023 18:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19807 Ind AS 2 mandates measuring inventories at the lower of cost and net realisable value. Cost comprises costs of purchase, costs of conversion (including direct labour and allocated production overheads based on normal capacity) and other costs to bring inventories to present location and condition, excluding abnormal, storage and non attributable administrative costs. Specific identification is used for non interchangeable items; otherwise FIFO or weighted average cost applies. impaired to net realisable value are written down (generally item by item) and reversals are recognised only to the extent of the original write down. Required disclosures include policies, carrying amounts, expense recognised, write downs, reversals and pledged inventories. Act-Rules Companies Law Thu, 04 Jun 2015 14:19:17 +0530 https://www.taxtmi.com/acts?id=19807