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Equipment = cost – depreciation.
Spare part = cost (assuming it is still of use). No depreciation because it is not yet used.
Thanks sir.
The equipment is for sale and spare part for maintenance.
Auditors opinion : we should value both in one ( using wacc)
Shoudn’t it be valued separetly using wacc?
WACC? Weighted average cost? Could use FIFO.
Each liine of inventory has to be valued separately – lower of cost and NRV. Eg for two pieces of equipment one might be at cost the other at NRV if lower than cost.
All the inventories can be added together at the end to show one figure on the SOFP.
Hello sir,
In regards of ias 2. Do we have different meaning of word use and purspose?
Are they the same?
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