<s>[INST] What is the value of opening inventory as per ICDS-II? [/INST] The value of the inventory as of the beginning of the previous year shall be -

(a) the cost of inventory available, if any, on the day of the commencement of the business when the business has commenced during the previous year; and

(b) the value of the inventory as on the close of the immediately preceding previous year, in any other case. </s>