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The following details relate to an inventory item Historical cost: Sh.25,000 Purchase cost: Sh.22,000 Estimated selling price: Sh.24,000 Estimated costs to complete sale: Sh. 4,000
- The following details relate to an inventory item
Historical cost: Sh.25,000 Purchase cost: Sh.22,000 Estimated selling price: Sh.24,000 Estimated costs to complete sale: Sh. 4,000
- Determine the value of this inventory item in line IAS 2 (2 Marks)
- Identify and explain the accounting principle that justifies the valuation above
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Currency Internationalization Global Experiences And Implications For The Renminbi
Authors: Wensheng Peng, Chang Shu
2nd Edition
0230580491, 9780230580497
