International Financial Reporting Standards (IAS 2) - Inventories

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FINANCIAL REPORTING One BACT three oh three

INVENTORIES: IAS two

Objective and scope

Measurement

IAS two - Objective and Scope

IAS two - Objective and Scope

Definition of Inventories

IAS two - Measurement

Determination of Net Realizable Value, NRV.

Determination of Cost.

Determination of Cost.

Example one - Valuing Inventory.

Depreciation of Machinery.

Selling expenses.

Requirement.

IAS two - Measurement.

Materials.

Depreciation of machinery.

Sundry factory expenses.

Units manufactured Unit cost.

Example two - Valuing Inventory.

Solution:

IAS two - Measurement.

IAS two - Measurement Example three - Valuing inventory.

IAS two - Measurement.

Cost.

thirty-four multiplied by zero point eight five equals twenty-eight point nine minus four equals twenty-four point nine.

Cost Formulae.

DISCLOSURE.

ASSIGNMENT one - IAS two: INVENTORIES.

Required:

ASSIGNMENT one - IAS two: INVENTORIES.

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