5 LO ca An item of inventory was purchased for $10. However, due to a fall in demand, its selling price will be only $8. In addition, further costs will be incurred prior to sale of $1. What is the NRV? A $7 B $8 C $10 D $11 6 N When valuing inventory, the following methods are available. 1 FIFO 2 AVCO 3 LIFO 4 Standard cost Which methods are allowable under IAS 2 Inventories? 1,2,3 B 1,2,3,4 1 only D 1, 2 A