Under CAS 1, if inventory is written down under the lower-of-cost-or-NRV valuation, the new basis is now considered its cost. As a result, the inventory may not be written back up to its original cost in a subsequent period.
A.正确
B.错误
正确答案：错误
Under CAS 1, if inventory is written down under the lower-of-cost-or-NRV valuation, the new basis is now considered its cost. As
2次阅读
Both merchandising and manufacturing companies normally have multiple inventory accounts.
The term ‘net realizable value’ (NRV) refers to the net amount that a company expects to realize from the sale of inventory.
猜你喜欢
- inventory management：发明管理
- The term ‘net realizable value’ (NRV) refers to the net amount that a company expects to realize from the sale of inventory.
- Which of the following is a product cost as it relates to inventory?
- The accounting treatment of inventories are quite similar under CAS 1 and IAS 2. Both standards account for inventory acquisitio