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O-LevelAccountingAccounting principles and policies7707/11 · May/June 2015 · Q181 Mark

How should inventory be valued?

Acost
Bhigher of cost and net realisable value
Clower of cost and net realisable value
Dnet realisable value

✓ Correct answer

C: lower of cost and net realisable value

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About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2015 Paper 1 Variant 1, question 18.

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