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Posted by omarfdawood on February 23, 2008, 10:02 am
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Dear Experts,
From the following policy, can we extract some points that could be
related to cost of production policy?
"Inventories include finished and semi-finished cement, raw materials
and consumables.
Finished and semi-finished cement are valued at the lower of
production cost or net realizable value. Actual cost includes cost of
raw materials and labour and appropriate proportionate share of the
manufacturing overhead. Raw materials are stated at the average cost
basis, but not in excess of net realizable value thereof. Spare parts
are valued at the cost less provision for slow moving items"
Many thanks in advance
Omar
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