As per Accounting Standard 2 (AS 2), a firm values its inventory at the lower of cost and net realizable value (NRV). Calculate the valuation price of the item if its historical cost is ₹1,500, estimated selling price is ₹2,500, and estimated completion and sales expenses are ₹1,000, along with a 4% sales commission on the selling price.

The following information relates to the receipts and issues of materials at S Co for the month of August: - 3 August: Received 400 units @ $17 each - 5 August: Received 250 units @ $18 each - 12 August: Issued 120 units - 18 August: Issued 480 units - 25 August: Received 275 units @ $16 each What is the value of closing inventory using the FIFO method of inventory valuation?

The following information relates to the receipts and issues of materials at S Co for the month of August: - 3 August: Received 400 units @ $17 each - 5 August: Received 250 units @ $18 each - 12 August: Issued 120 units - 18 August: Issued 480 units - 25 August: Received 275 units @ $16 each What is the value of the units issued on 18 August using the LIFO method of inventory valuation?