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IFRS CPA Exam 2 Questions with Correct Verified Answers Latest Update (2024/2025) Guaranteed Pass $10.49   Add to cart

Exam (elaborations)

IFRS CPA Exam 2 Questions with Correct Verified Answers Latest Update (2024/2025) Guaranteed Pass

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  • CPA - Certified Public Accountant
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  • CPA - Certified Public Accountant

IFRS CPA Exam 2 Questions with Correct Verified Answers Latest Update (2024/2025) Guaranteed Pass IFRS CPA Exam 2 Questions with Correct Verified Answers Latest Update (2024/2025) Guaranteed Pass IFRS CPA Exam 2 Questions with Correct Verified Answers Latest Update (2024/2025) Guaranteed Pass...

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  • August 21, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CPA - Certified Public Accountant
  • CPA - Certified Public Accountant
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DoctorKen
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IFRS




IFRS CPA Exam 2 Questions with
Correct Verified Answers Latest
Update (2024/2025) Guaranteed
Pass

$90,000 - ANS ✓A company determined the following values for its
inventory as of the end of its fiscal year:


Historical cost $100,000


Current replacement cost 70,000


Net realizable value 90,000


Net realizable value less a normal profit margin 85,000


Fair value 95,000


Under IFRS, what amount should the company report as inventory on its
balance sheet?


Biological inventory items - ANS ✓Under IFRS, which of the following
inventory items are not valued at the lower of cost or net realizable value?


IFRS CPA Exam #2

, 2
IFRS



$ 850 - ANS ✓Brady Corporation values its inventory at the lower of cost
or net realizable value as required by IFRS. Brady has the following
information regarding its inventory:


Historical cost $1,000


Estimated selling price 900


Estimated costs to complete and sell 50


Replacement cost 800


What is the amount for inventory that Brady should report on the
balance sheet under the lower of cost or net realizable value method?


$ 850 - ANS ✓Brady Corporation values its inventory at the lower of cost
or net realizable value as required by IFRS. Brady has the following
information regarding its inventory:


Historical cost $1,000


Estimated selling price 900


Estimated costs to complete and sell 50


Replacement cost 800



IFRS CPA Exam #2

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