According to IAS 2, inventory must be reflected at the lower of cost and net realisablevalue. Which one of the following is not an indicator of possible adjustments to the net8.realisable value?1. A decline in selling prices.2. Decrease in selling costs.3. Damaged inventories.4. Wholly or partially obsolete inventories.

NET REALISABLE VALUE IS THE ESTIMATED SELLING PRICE LESS THE ESTIMATED COST OF COMPLETION AND THE…

8. According to IAS 2, inventory must be reflected at the lower of cost and net realisable value. Which one of the following is not an indicator of possible adjustments to the net realisable value? 1. A decline in selling prices. 2. Decrease in selling costs. 3. Damaged inventories. 4. Wholly or partially obsolete inventories.

8. According to IAS 2, inventory must be reflected at the lower of cost and net realisable value. Which one of the following is not an indicator of possible adjustments to the net realisable value? 1. A decline in selling prices. 2. Decrease in selling costs. 3. Damaged inventories. 4. Wholly or partially obsolete inventories.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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