Inventory should be stated at (a) Lower of cost and fair value (b) Lower of cost and net realizable value?

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Shahbaz Hayder
11-January-2016

Accounting Financial Reporting Financial Accounting Finance

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Date de publication: 2015/08/10

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Vijayabharathi Kalyanasundaram (ACMA - INDIA)

par Vijayabharathi Kalyanasundaram (ACMA - INDIA) , Finance Analyst , shell

Answer (B) - Lower of cost and net realizable value

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Muhammad Ramzan Tufail ACCA

par Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

B) is the right ans. According to IAS-2, Inventory should be stated at Lower of ! Cost !! NRV

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