Under IFRS , Which of the following inventories items are not valued at the lower of cost or NRV?

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According to IAS 2 Inventories, which of the following costs should be included ...
Posted by:
Asad zaman
06-August-2014

1 - Industrial inventory items .

2 - Biological inventory items .

3 - Retail inventory items .

4 - Manufacturing inventory items .

Accounting Auditing US GAAP Economics

Question added by Deleted user
Date Posted: 2016/07/28

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2 Answers

Khawaja Haider Ali

by Khawaja Haider Ali , VAT Specialist Higher Executive Officer , HM Revenue & Customes HMRC

Biological Inventory Items

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by Sohail Lone , Assistant Manager Audit , Deloitte - United Arab Emirates

Biological inventory items.Classified as per IAS 41

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