A company buys agricultural produce from wholesale suppliers for retail to the general public. It is preparing its financial statements for the year ending 30 september 20X4 and is considering its closing inventory.
Why the Ias 2 inventories would be relevant and why Ias 41 agriculture would not be relevant
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3y ago#1Because this is part of their normal course of business, buying goods (agricultural produce) for sale. They are not buying them to grow them.
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