According to the principal of prudence At what cost inventory should be valued if net realisable value of the invtry is lower than cost or vise versa?

Question

tariq tariq · Answer

inventory is valued at lower of cost or net realisable value as per IAS2.

samer assem · Answer

Inventory should valued at cost price or market price which ever is lower in the financial statement.

FITAH MOHAMED · Answer

Inventory should be valued at cost price or market price, whichever is lower

C S Raghunandan Chikkaballapur Rao · Answer

Inventory must be valued at Cost or Market value whichever is lower. This is as per the IAS issued by the Institute of Chartered Accountant of India and in IFRS also the same.

Anas Dawah · Answer

at the lower of cost or NRV

aziz urrehman · Answer

The lower of cost or market method of valuation is recommended.

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According to the principal of prudence At what cost inventory should be valued if net realisable value of the invtry is lower than cost or vise versa?

Inventory should be valued at cost price or market price, whichever is lower

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