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Inventories should be reported at lower or market price.
The general answer is that inventories should be reported at cost.
As per IAS 2 inventory should be reported at lower of Cost or NRV(S.P-Cost of selling goods)
Inventories should be recorded at cost
The general answer is that inventories should be reported at cost. ... (The selling price minus the cost to complete and dispose is the net realizable value.) In a few industries, such as gold mining and meatpacking, it is accepted practice to report the inventory at its net realizable value.
According to IAS 2 inventory should be recorded at the lower of cost or net realizable value.
the inventory of final product only can be repotted with its cost
A merchant's inventory would be reported at the merchant's cost to purchase the items. A manufacturer's inventory would be at its cost to produce the items (the cost of direct materials, direct labor, and manufacturing overhead) (The selling price minus the cost to complete and dispose of is the net realizable value.)
