https://www.taxtmi.com/forum/issue?id=109700 Valuation of finished goods requires stating inventory at cost or net realizable value, whichever is lower. Practical differences from cost accounting arise in the method of valuing material consumption and in whether excise duty is included in the inventory value, affecting per unit cost measurement and reconciliation between costing records and accounting valuation. en-us Sun, 10 Jan 2016 20:19:25 +0530 Thu, 23 Jan 2025 15:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109700 Valuation of finished goods requires stating inventory at cost or net realizable value, whichever is lower. Practical differences from cost accounting arise in the method of valuing material consumption and in whether excise duty is included in the inventory value, affecting per unit cost measurement and reconciliation between costing records and accounting valuation. Discussion-Forum Companies Law Sun, 10 Jan 2016 20:19:25 +0530 https://www.taxtmi.com/forum/issue?id=109700