- This topic has 3 replies, 2 voices, and was last updated 14 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
- Topics: 16
- Replies: 32
- ☆
when we value inventory is valued at NRV assuming it is below cost, then do we impair inventory? Also whenever they give inventory value in a question is this one of the main things we must consider for inventory?
If I understand your question, the valuation at nrv ( below cost ) automatically takes account of the fall in value within the cost of sales calculation. So no separate “impairment” is necessary.
I really do not understand your second question!
- Topics: 16
- Replies: 32
- ☆
hmm sorry i could not frame my second question its allrite you’ve provided me the answer to my query thanks!
Viewing 4 posts - 1 through 4 (of 4 total)
- You must be logged in to reply to this topic.