Inventory: The inventories are the stock and goods created for the day-to-day business operations. When there is an increase in the inventory, there is an increase in the current assets of the organization. To determine the similar statement between IFRS and GAAP in the given statements regarding the accounting for inventories.

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Chapter 9, Problem 2IST

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Inventory: The inventories are the stock and goods created for the day-to-day business operations. When there is an increase in the inventory, there is an increase in the current assets of the organization.

To determine the similar statement between IFRS and GAAP in the given statements regarding the accounting for inventories.

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