[Solved] MGT401 Assignment 1 Fall 2020
Question # 01
From the following information of a company you are required to calculate the NRV of the inventory and answer the questions mentioned in requirement.
- Partially completed inventory item at the year end.
- Expected selling price of the item when completed is Rs. 2,600.
- A further cost of Rs. 500 is required to complete the item
- Expected selling cost of the item is Rs. 100
1. What will be the carrying value of the inventory item if the cost incurred to date is Rs. 1,000?
2. What will be the carrying value of the inventory item if the cost incurred to date is Rs. 4,500?
Question # 2
Keeping in mind the disclosure requirements of IAS 02, you are required to enlist the methods of stock valuation.
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MGT401 Assignment 1 Fall 2020 Solution:
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