Question
Inventory Information: Historical Cost $10,000 Replacement Cost $6,000 Net Realizable Value $6,500 Net Realizable Value less normal profit $4,500 According to IFRS, the inventory is
Inventory Information:
| Historical Cost | $10,000 |
| Replacement Cost | $6,000 |
| Net Realizable Value | $6,500 |
| Net Realizable Value less normal profit | $4,500 |
According to IFRS, the inventory is presented as what amount?
Select one:
a. $4,500
b. $4,000
c. $10,000
d. $6,000
e. $6,500
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
