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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Inventory
1) Fifo and AVCO inventory valuation method is for Raw material only or for all inventories?
2) Lower of Cost and NRV method is for Finished goods only or for all Inventories?
1. For all inventories.
2. For finished goods only.
Thank you tutor.
Tutor, the reason for (2).
Is that we never sell WIP and Raw Material so therefore not NRV?
Correct!
