Cost formula application for Inventory Valuation,
Which is not permissible as per IFRS?

Question

A. FIFO Method

B. LIFO Method

C. Weighted Average Cost Method

D. All are permissible

Thaikkattil Mathew Joshi · Answer

B.LIFO. Because if we use this method of pricing ,last consignment value has to adopt even for the outdated stock which the organization carrying in their inventory.

That's why IFRS do not recommend LIFO.

Regards,

Joshi Mathew

CIA #1036906

Muhammad Rizwan · Answer

LIFO is not permissable with IFRS, items may be expired if use LIFO method, because new inventory used and old remain there.

خدمات بيت.كوم

استخدم تطبيق بيت.كوم

ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

Cost formula application for Inventory Valuation, Which is not permissible as per IFRS?

عمليات البحث الشائعة

المزيد من الأسئلة المماثلة