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Inventory

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Inventory

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by MikeLittle.
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  • August 5, 2018 at 1:49 pm #466283
    jaylintan
    Participant
    • Topics: 7
    • Replies: 3
    • ☆

    What is the accounting treatment for perishable inventory like fruits and vegetables?

    August 24, 2018 at 5:49 am #469183
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23318
    • ☆☆☆☆☆

    Lower of cost and net realisable value – hopefully you will never have too much inventory of perishable goods

    If the fruit and vegetables are not yet harvested, IAS 41 guides you with the appropriate accounting treatment

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