Page 98 - FR Integrated Workbook 2018-19
P. 98
Chapter 8
IAS 2 Inventories
3.1 Summary of valuation
Inventories
valued at the
lower of:
Expected
Net selling price
Cost realisable less
value expected
costs to sell
Actual Average First in-
unit cost cost first out
3.2 Definition of cost
Cost is the cost of bringing items to their present location and condition.
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