Explain the concept of lower of cost and net realisable value for inventory.

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Applying International Financial Reporting Standards

ISBN: 978-0730302124

3rd edition

Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise

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Question Posted: Apr 30, 2016 01:00 PM

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Explain the concept of lower of cost and net realisable value for inventory.

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Paragraph 9 of IAS 2 requires that Inventories shall be measured at the lower of cost and net r...View the full answer

Applying International Financial Reporting Standards

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