- This topic has 3 replies, 2 voices, and was last updated 9 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
What would be the effect on a company’s profit for the year of discovering inventory with cost of 1250 and a net realisable value of 1000 assuming that this item of inventory had not been included in the original inventory count?
A an increase of 1250
B an increase of 1000
C a decrease of 250
D no effectSir I am unable to understand this question and how I should proceed
Pls help
You have obviously not been watching my free lectures – they are a complete course for Paper F3 and I cannot possibly type them all out here!!
You need to read the provisions of IAS2 – inventory has to be valued at the lower of cost and NRV.
Viewing 4 posts - 1 through 4 (of 4 total)
- You must be logged in to reply to this topic.