Definition
This item comprises the value of all stocks owned by the parent enterprise and held by, or under the control of your establishment, either at the establishment or elsewhere. Stocks held at ancillary units, in bonded stores or public warehouses on consignment in transit and held by others for processing on commission are included. Excluded materials owned by others but held by this establishment for processing. In general stocks acquired from others should be valued at purchasers prices and those produced internally at producers' prices.
3.2. Work-in-progress - refers to the value of all materials which have been partially processed by this establishment but which are not usually sold,
shipped or turned over to other establishments without further processing.
An imputed valuation in terms of producers prices should be adopted, including an imputed margin for overhead costs and profits as well as the cost of materials consumed and labour used. Alternatively, book values might be reported.
