IAS 2 Inventories defines the items that may be included in computing the value of an inventory of finished goods manufactured by a business.Which one of the following lists consists only of items which may be included in the statement of financial posit
aCarrefour values its inventories according to IAS 2 Inventories, which, as Carrefour includes in it’s section on inventories, requires inventories to be valued at the lower of cost or NPV, and calculates NPV as the estimated selling price minus additional costs necessary for sale. Carrefour des...
1.【单选题】Which one of the following lists consists only of items which may be included in the cost of inventories, according to IAS 2? 选项: A. Supervisor's wages, carriage inwards, carriage outwards, raw materials B. Raw materials, carriage inwards, costs of storage of finished goods,...
Which of the following statements about the valuation of inventory are correct, according to IAS2 Inventories?A. The cost of goods manufactured by an entity will include materials and labour only. Overhead costs cannot be included.B. LIFO (last in, first out) cannot be used to value inventor...
Which of the following statements about the valuation of inventory are correct, according to IAS 2 Inventories? 1 Inventory items are normally to be valued at the higher of cost and net realisable value. 2 The cost of goods manufactured by an entity will include materials and labour only. Ove...
What should the inventory value be according to IAS 2 Inventories after considering the above items? A $281,200 B $282,800 C $329,200 D None of these 考点 Chapter7Inventory 解析 $ Original value 284,700 Coats - Cost 400 x $80 (32,000)-NRV ($75 x 95%) x 400 28,500281,200 ...
07.Inventory
What should the inventory value be according to IAS 2 Inventories after considering the above items?A. $329,200B. $281,200C. None of theseD. $282,800 正确答案:B 分享到: 答案解析: The correct answer is: $281,200. $ Original value 284,700 Coats - Cost 400 x $80 (32,000) ...
The IAS2 is the regulating standard to account for inventories. According to this, the value of inventory should be shown at the lower of the cost or...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our expert...
segregated for specific projects," all inventory must be accounted for using the FIFO or weighted-average cost method. The method selected must remain consistent. According to IAS 2, “an entity shall use the same cost formula for all inventories having a similar nature and use to the entity....