Inventory and IAS 2 Valuation of Inventory - Example 5
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- Опубліковано 23 вер 2024
- Inventory and IAS 2 Valuation of Inventory - Example 5
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12:58 is LIFO shown? latest purchase taken out from inventory. for FIFO I would expect sales done on Nov 14 (500 items) taken) from open inventory and partially from purchase on November 10, for 12.5
Yesss no arithmetic! Good lecture, thanks
Sir, as given in the lecture we have valued inventory on the basis of cost in FIFO since cost is lower (as net realisable value is $20). If incase, the net realisable value was lower, say $10, would we use net realisable value?
This AVCO method sef. It’s so stressful. I prefer FIFO. 😉
Sir, the first stock came in on 10 November @ $12.50, if we're sticking to the rule, should we not be accounting for those first? You made no mention of them
Thanks for the explanations!
precise and clear
Thank you sir
Thank you for your comment :-)
If we are not given an instruction to weather calculate the value of inventory using Ave method or FIFO, which then do we use?
The question will instruct you which to use.
is there a periodic FİFO such as Periodic AVCO ?
No - FIFO is always as explained in the lecture :-)
@@opentuition but in CFA exam levels, it says there’re periodic FİFO. Why are there differences?
@@dinaraquliyeva3895 CFA is a different qualification. We teach what is needed for the ACCA and CIMA exams, not for CFA.