Non Historical method | Adjusted selling price method | Illustration 5 (Most Important)

Non historical method comprises of only method for Inventory valuation i.e. adjusted selling price method.
As the name suggests, it ignores what is the cost is the acquisition cost of inventory and values the closing stock using its estimated selling price. from the selling price, the estimated gross profit margins are deducted and the value of closing stock is computed.
Lets discuss this in detail in the video. (Historical cost method concepts: • Historical cost method... )
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Illustration 5 from Inventory valuations chapter is most important and it is discussed in this video.
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