Plz answer quickly..In case of change in inventories in p/l a/c does the company shows its selling price or cost price of the inventories?

Dear Student

As per Accounting Standard - 2 (Accounting for Inventories)
Closing Stock or inventories or Opening Stock is always shown at cost or net realizable value whichever is lower, In case NRV is not given in the question inventory is always.


Regards