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Non-current assets, agriculture and inventories

Inventories

9.1 Summary of recognition and measurement

Inventories

measure at
lower of:

Expected
Net
selling price
Cost/ realisable less expected
value
costs to sell

Actual Average First in-
cost cost first out

Further detail can be found in Section 9 of Chapter 5 in your Study Text.

Illustrations and further practice

Now try the illustration in Section 9 of Chapter 5.

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