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Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Inventory and intangibles
1) Should net realizable value of work in progress be considered?
2) For internally generated intangibles, does development expenditure on making changes to fulfill changes required by regulatory authorities qualify for capitalization?
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1) Yes. All types of inventories are always measured at lower of cost and net realisable value.
2) Yes because that is a cost necessary to bring the asset into its working condition.