Taking stock for your own use 31 Oct 2014

IRD says you should value stock taken for your own use at its market value.

If you take raw materials to be used for manufacture, market value is their cost, presumably because if you were to sell them, you probably couldn’t get a higher price for them. If you take goods you have bought for resale, market value is your selling price. A baker’s stale scones might be near valueless, depending on the location of the bakery. 

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