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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 08 and IAS 02
In IAS 02, Inventory is recorded at lower of cost or Net realizable value. Net Realizable value is it an accounting estimate or accounting policy according to IAS 08?
And when the inventory is recorded at NRV from cost. Is it a change in accounting estimate or policy or neither? Because we don’t have an option to choose in IAS 02 it can be neither.
Estimate not policy
