The purpose of this course is to familiarize you with the measurement of inventories, including any write-down to net realizable value. It also covers the cost formulas that may be used to assign costs to inventories.
When you complete this course you will be able to:
- Determine the initial measurement of inventory assets.
- Understand the cost formulas that are permitted by IAS 2, Inventories.
- Calculate the appropriate carrying amount of inventory at the reporting date.
- Test inventories for impairment by applying the lower of cost or net realizable value calculation to ending inventory.
- Determine the appropriate measurement of cost of sales for a reporting period
Advanced Preparation: None
Note: Accessible immediately after completing the purchase process on www.cpa2biz.com