Inventory Interview question|

#interviewquestion #big4 #caaspirants #charteredaccountants
This video will let you know the type of questions asked in Interview for Inventory.
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[@phanindrakumarvavilala804]

Very useful question.. didn't expect answer even

[@auditpractically]

Thanks 😊

[@0xxsapxx0]

🙏🏻 isliye bolta hu aur videos upload kijiye aur aisehi siksha dete rhiye sirji 😄

[@auditpractically]

Jarur se.. thanks 😊

[@manishmahato2001]

Sir in gt interview they asked me one question.
Suppose you are doing stock audit of electrical items( fan, Heater, light). What will be the impact on fs if stock is expired?
I replied: we will write it down ( provision for inventory Debit inventory credit)
Then interviewer again asked me : what if those goods are still in working conditions like fan is working and buyers ready to buy at same price even though it is expired?
Please if possible answer this sir . Feeling very demotivated after this interview.

[@auditpractically]

Hi Manish as per my understanding in IND AS 2 nothing is mentioned like if an item has expired make provision for the same, so we will value at NRV or cost whichever is lower. The nature of the item is also such that it can be used post expiry date if any mentioned.

[@harmoniousswarupa2986]

Clear this q plz. Here The FG NRV>Cost, That's why we are considering Higher Value from FG ? Or shall We go with "cost" of FG in case of such scenario as a thumb rule ?

[@mr.-pv7261]

good

[@maheshgohil9197]

Superb!

[@auditpractically]

Thanks 😊

[@nehamodi8391]

Helpful

[@auditpractically]

Thanks Neha!

[@manjunathmp1362]

Wt is NRV?

[@auditpractically]

Net realizable value.

[@milipiscean]

Net Realisable Value (NRV) is the amount by which the estimated selling price of an asset exceeds the sum of any additional costs expected to incur during the sale of the asset. NRV has significant importance in the valuation of inventory.

[@JimmYJaat22]

hindi me batao yr

[@gauravsinharoy8547]

👍

[@auditpractically]

😊