Question: What does the term 'net realisable value' mean? What sources of evidence could a company use to determine net realisable value? 2. ii) Identify three

What does the term 'net realisable value' mean? What sources of evidence could a company use to determine net realisable value?

2. ii) Identify three reasons why net realisable value may fall below cost. What action should a company take at year end if some of its inventory items have declined in value while other inventory items have increased in value? Why?

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