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Use the following information about Al Yaman's inventory of (X) units to answer the question: - At 31/12/2020 counting the inventory reveals that ending inventory
Use the following information about Al Yaman's inventory of (X) units to answer the question: - At 31/12/2020 counting the inventory reveals that ending inventory cost worth $52.500. -One half of inventory quantity (50%) is held to satisfy firm sales contract. contract price $13.000 and estimated cost to sell is $2.000 - Sales value of the remaining amount of inventory is $41,500. Required: based on IAS (2) the amount of Loss Due to Decline to NRV to be reported at income statement for 2020. is
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