Inventories
General Instructions for Preparation of StatementsInventories shall be classified as Raw materials, Work-in-progress, Finished goods, Stock-in-trade, Stores and spares, and Loose tools.
Audit Procedures Dashboard
Inventories (Division 1)Audit Steps Checklist
| Item Code | Description | Qty | Rate (₹) | Cost (₹) | NRV (₹) | Conclusion |
|---|---|---|---|---|---|---|
| RM-001 | Steel Sheets (Grade A) | 1,000 | 500 | 5,00,000 | 550 | Pass |
| RM-002 | Aluminum Coils | 500 | 800 | 4,00,000 | 750 | NRV Lower |
| RM-003 | Copper Wire (2mm) | 2,000 | 300 | 6,00,000 | 320 | Pass |
| RM-004 | Plastic Pellets (Virgin) | 5,000 | 40 | 2,00,000 | 45 | Pass |
| RM-005 | Chemical X-12 | 100 | 2,000 | 2,00,000 | 1,800 | NRV Lower |
| RM-006 | Lubricant Oil | 1,200 | 150 | 1,80,000 | 160 | Pass |
| RM-007 | Packing Corrugated | 10,000 | 12 | 1,20,000 | 15 | Pass |
| RM-008 | Adhesive Glue | 500 | 250 | 1,25,000 | 240 | Check Obsolescence |
| RM-009 | Rubber Gaskets | 2,500 | 45 | 1,12,500 | 50 | Pass |
| RM-010 | Standard Bolts | 50,000 | 2 | 1,00,000 | 2.5 | Pass |