https://www.taxtmi.com/manuals?id=2939 Inventory is measured at the lower of cost or net realisable value. Cost comprises cost of purchase, cost of conversion and other costs directly incurred to bring inventories to their present location and condition. Cost of purchase includes purchase price plus non refundable taxes, inward freight and insurance less discounts and similar items. Cost of conversion includes direct labour and a systematic allocation of fixed and variable production overheads. Costs excluded as period expenses include abnormal waste, non production storage, unrelated administrative overheads and selling costs; borrowing costs are generally excluded except as permitted by borrowing costs rules. en-us Wed, 28 Jun 2023 15:28:00 +0530 Wed, 28 Jun 2023 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2939 Inventory is measured at the lower of cost or net realisable value. Cost comprises cost of purchase, cost of conversion and other costs directly incurred to bring inventories to their present location and condition. Cost of purchase includes purchase price plus non refundable taxes, inward freight and insurance less discounts and similar items. Cost of conversion includes direct labour and a systematic allocation of fixed and variable production overheads. Costs excluded as period expenses include abnormal waste, non production storage, unrelated administrative overheads and selling costs; borrowing costs are generally excluded except as permitted by borrowing costs rules. Manuals Companies Law Wed, 28 Jun 2023 15:28:00 +0530 https://www.taxtmi.com/manuals?id=2939