O-LevelAccountingAccounting principles and policies7707/11 · May/June 2025 · Q181 Mark
How should a business value its inventory?
Aat the higher of cost and net realisable value
Bat the lower of cost and net realisable value
Cat the higher of selling price and cost
Dat the lower of cost and net book value
✓ Correct answer
B: at the lower of cost and net realisable value
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