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Methods of Valuation of Inventories

METHODS OF VALUATION OF INVENTORIES

The following methods for pricing material issues are generally followed :

(i)                 First in First out method

(ii)               Last in first out method

(iii)             Average cost method

(iv)             Inflated price method

(v)               Specific price method

(vi)             Highest in first out method

(vii )           Base stock method

(vii)           Replacement price method

(viii)         Realisable value method

(ix)             Current standard price method

(x)               Market price method