IAS 2

I was doing audit risk questions and came across to situations regarding inventory valuation,
In the first question due to fluctuations in raw material prices auditor response was to take inventory at average cost and
In the second question sale price – profit margin was used as valuation due to it being a close approximation of costs

Isn’t according to IAS 2 inventory is valued at lower of cost or at NRV only? Are these exceptions to the standard?