TRK Pharma Co. estimated the net realisable value of its inventory stock to be USD 56,000. The

Question:

TRK Pharma Co. estimated the net realisable value of its inventory stock to be USD 56,000. The inventory was initially recorded by the company at a cost of USD 60,000. What will be the loss or gain, if any, using the NRV approach?

a. USD 4,000 loss

b. USD 4,000 profit

c. No profit or loss would be incurred

d. None of the above

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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Question Posted: Mar 11, 2024 03:31 AM

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TRK Pharma Co. estimated the net realisable value of its inventory stock to be USD 56,000. The

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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