Valuation of Inventory at Selling Price
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Date
2016
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Department of Accountancy, University of Kelaniya
Abstract
PQR limited is limited liability Company which is engaging a retail business as a
super market with more than 300 Outlets Island wide. It imports and locally
purchases groceries, provisions, liquor, house hold items and fruits &
vegetables, and distribute to the outlets using 5 warehouses. Normally they
conduct a physical stock verification at the end of every financial year of
assessment. On that time of stock count, the company value the stock at selling
price.
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Citation
Priyanganie, K.A.I. & Wijesinghe, K.D.G.N. 2016. Valuation of Inventory at Selling Price. Case Studies in Accounting “Bridging the Gap”, 03: pp. 64. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.