The Following Information Relates to Moore Company's Inventory:Cost of Inventory

question 155

Multiple Choice

The following information relates to Moore Company's inventory:Cost of inventory = $460Selling price of inventory = $500Normal profit margin = 10% of selling priceCurrent replacement cost = $370Cost of completion and disposal = $50Under IFRS, which of the following would be the correct measurement value for the inventory?

• A) $460
• B) $370
• C) $500
• D) $450

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