As per the provisions of AS 02, inventories should be valued at :

CS Executive · Corporate and Management Accounting · PYQS · December 2022
As per the provisions of AS 02, inventories should be valued at :
(A) The cost price
(B) The net realizable value
(C) Cost price or net realizable value whichever is less
(D) Cost price or net realizable value whichever is more

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Accounting Standards

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