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valuation of inventory

This topic has 3 replies, 2 voices, and was last updated 10 years ago by Ken Garrett.

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April 15, 2015 at 3:28 pm #241387
Shaharia
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if we value inventory at latest invoice price how would it include unrealised profit ?
April 15, 2015 at 6:10 pm #241426
Ken Garrett
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It wouldn’t. Why do you think it would? (NB audit of groups is not on the F8 syllabus).
April 21, 2015 at 1:39 pm #242083
Shaharia
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it has been described at bpp text book at pg-257 that a valuation may include unrealised profit if inventory is valued at latest invoice price .
April 21, 2015 at 5:00 pm #242099
Ken Garrett
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I don’t have their text book and don’t understand what they mean – except if the inventory had been sold by one division to another. Then there could be unrealised profit.
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