The retail method can be used for measuring inventories of the beauty products. a year ago. Transport costs for raw materials b. IAS 2 Inventories 2 Fair value – the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. PAS2. Share. Measurement Inventories shall be stated at the lower of cost and net realisable value. 161 … PAS 2 Inventories. Copy and Edit. • Measure inventories and apply the cost formulas. 42 0. JM PAS 2: INVENTORIES Cost Formulas 3. World Languages. a. Inventories - PAS2. These short objective type questions with answers are very important for Board exams as well as competitive exams. Save. 59% average accuracy. a. Fair value less cost of disposal at point of harvest. Conceptual Framework & Acctg. 2 Standards (by: Zeus Vernon B. Millan) Inventories. These short solved questions or quizzes are provided by Gkseries. MCQ quiz on Inventory management multiple choice questions and answers on Inventory management MCQ questions quiz on Inventory management objectives questions with answer test pdf. PAS 2 MABIL. Nuttig? QUIZ NEW SUPER DRAFT. PAS 2 MABIL. a year ago. Which of the following is added to the cost of inventories? Learning Objectives • Define inventories. Edit. San Beda University. Construction contracts (PAS 11) Financial instruments (PFRS 9/PAS 39) Biological assets (PAS 41) Does NOT APPLY to measurement of inventories held by: Producers of agricultural and forest products measured at NRV. effendiadha_52592. For the purpose, cost at the date of harvest is deemed to be QUIZ NEW SUPER DRAFT. PAS 2 Inventories, By HASSANHOR G BACOLOD QUIZ: 1. When agricultural produce is harvested, the harvest shall be accounted for as "inventory". Inventory Management Multiple Choice Questions and Answers for competitive exams. 2019/2020. JD DL. JM PAS 2: INVENTORIES Date Transaction Units Unit Cost Total Cost Jan 1 Beginning 100 10 1,000 Inventory Jan 7 Purchase 300 12 3,600 Jan 12 Sale 320 Jan 21 Purchase 200 14 2,800. Gerelateerde documenten. Reacties. Academisch jaar. 161 plays. 3. Delen. Universiteit / hogeschool. (3) When production is abnormally high, the fixed production overhead allocated to each unit will be reduce, so avoiding inventories being stated at more than costs. Storage costs of part-finished goods b. The cost of the inventory is determined by taking the selling price of the cosmetics IAS 2 -Inventories, explain how the items referred to in ) a and b) should be measured . Preview this quiz on Quizizz. Weighted Average Cost – cost … Vak. PAS 2 Inventories. Minerals and mineral products measured at NRV. 3rd grade . • State the accounting for inventory write-down and the reversal thereof. (2) Unallocated overheads must be recognised as an expense in the period in which they were incurred. 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