Lower of Cost or Market Value

FA – Nov 2011 – L1 – SA – Q20 – Accounting for Inventories (IAS 2)

This question asks about the basis for valuing inventory.

Question

The basis of valuation of inventory is
A. Lower of cost or net realizable value
B. Lower of cost and market value
C. Lower of cost and net realizable value
D. Lower of average cost and market value
E. Lower of average cost and net realizable value

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Tags: Inventory Valuation, Lower of Cost or Market Value
Level: Level 1

Topic: Accounting for Inventories (IAS 2)
Series: NOV 2011

Question Tag: Lower of Cost or Market Value

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FA – Nov 2011 – L1 – SA – Q20 – Accounting for Inventories (IAS 2)

This question asks about the basis for valuing inventory.

FA – Nov 2011 – L1 – SA – Q20 – Accounting for Inventories (IAS 2)

This question asks about the basis for valuing inventory.

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Question Tag: Lower of Cost or Market Value

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FA – Nov 2011 – L1 – SA – Q20 – Accounting for Inventories (IAS 2)

This question asks about the basis for valuing inventory.

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FA – Nov 2011 – L1 – SA – Q20 – Accounting for Inventories (IAS 2)

This question asks about the basis for valuing inventory.

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