IAS 2 Requires That Inventory Is Valued At

question 45

Multiple Choice

IAS 2 requires that inventory is valued at:

• A)the lower of cost and recoverable value, on an item-by-item basis where practicable.
• B)cost or fair value for classes of assets and services that are defined as inventories.
• C)the lower of cost and net realisable value, on an item-by-item basis where practicable.
• D)cost or deprival value, whichever is the lower, for classes of inventories.

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