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i) IAS 2 Inventories and short-term work in progress uses the term net realisable value in relation to the valuation of inventories Required: Discuss what

i) IAS 2 Inventories and short-term work in progress uses the term net realisable value in relation to the valuation of inventories

Required: Discuss what is meant by net realisable value and discuss the practical difficulties facing accountants in determining the net realisable value of inventories.

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