Inventory

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August 5, 2018 at 1:49 pm #466283
jaylintan
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What is the accounting treatment for perishable inventory like fruits and vegetables?
August 24, 2018 at 5:49 am #469183
MikeLittle
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Lower of cost and net realisable value – hopefully you will never have too much inventory of perishable goods
If the fruit and vegetables are not yet harvested, IAS 41 guides you with the appropriate accounting treatment
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