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Summary IAS 2 Inventory
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this document includes 2nd year notes and examples. It is a concise summary of how to attempt inventory questions with examples as well as notes
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By: MahlatseP • 2 year ago
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IAS 2INVENTORY
, Notes to the financial statements for the year ended 31 December 2020
6. Inventory
Raw material
Work-in-progress
Finished products
Merchandise
17. Profit before tax
Profit before tax is shown after taking the following
into account:
Income
Reversal of net realisable value write-down
Expenses
Net realisable value write-down
The reversal of the net realisable value write-down occurred
as a result of an increase in the selling price of the finished goods.
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