Assume that Darcy Industries had the following inventory val

Assume that Darcy Industries had the following inventory values.
1. Inventory cost (on December 31, 2014) $1,500
2. Inventory sales value (on December 31, 2014) $1,350
3. Inventory net realizable value (on December 31, 2014) $1,320

Under IFRS, what is the inventory carrying value on December 31, 2014?

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$1,500.

$1,570.

$1,560.

$1,320

Under IFRS inventory carrying value would be inventory cost or inventory net realizable value which ever is lower.

so in this question inventory cost is $1500

Inventory net realizable $1320

inventory carrying value on december 31, 2014 is $1320

so answer is d) $1320

Assume that Darcy Industries had the following inventory values. 1. Inventory cost (on December 31, 2014) $1,500 2. Inventory sales value (on December 31, 2014

Assume that Darcy Industries had the following inventory val

Solution

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