PAS 2 Inventories. Trade discounts c. Refundable purchase taxes d. Administrative costs 2. 161 plays. Solution Example 2 . When agricultural produce is harvested, the harvest shall be accounted for as "inventory". QUIZ NEW SUPER DRAFT. Nuttig? San Beda University. 3rd grade . Gerelateerde documenten. 59% average accuracy. Construction contracts (PAS 11) Financial instruments (PFRS 9/PAS 39) Biological assets (PAS 41) Does NOT APPLY to measurement of inventories held by: Producers of agricultural and forest products measured at NRV. MCQ quiz on Inventory management multiple choice questions and answers on Inventory management MCQ questions quiz on Inventory management objectives questions with answer test pdf. Save. PAS 2 MABIL. Delen. When there is a long aging or maturation process after harvest, the accounting for such products shall be dealt with by. PAS 2 Inventories. • Measure inventories and apply the cost formulas. 2 Standards (by: Zeus Vernon B. Millan) Inventories. Academisch jaar. (2) Unallocated overheads must be recognised as an expense in the period in which they were incurred. JM PAS 2: INVENTORIES Cost Formulas 3. BS Accountancy (BSA) Geüpload door. World Languages. These short objective type questions with answers are very important for Board exams as well as competitive exams. PAS 2 MABIL. Conceptual Framework & Acctg. 3. The cost of the inventory is determined by taking the selling price of the cosmetics JM PAS 2: INVENTORIES Date Transaction Units Unit Cost Total Cost Jan 1 Beginning 100 10 1,000 Inventory Jan 7 Purchase 300 12 3,600 Jan 12 Sale 320 Jan 21 Purchase 200 14 2,800. These short solved questions or quizzes are provided by Gkseries. Which of the following is added to the cost of inventories? Meld je aan of registreer om reacties te kunnen plaatsen. a. 42 0. Which of the following costs are included in the cost of inventories? a. Weighted Average Cost – cost … Share. Learning Objectives • Define inventories. Inventories - PAS2. PAS2. Commodity brokers who measure inventory at fair value less costs to sell. Professionals, Teachers, Students and Kids Trivia Quizzes to test your knowledge on the subject. Preview this quiz on Quizizz. Minerals and mineral products measured at NRV. PAS 2 Inventories, By HASSANHOR G BACOLOD QUIZ: 1. Edit. Storage costs of part-finished goods b. a year ago. Universiteit / hogeschool. IAS 2 Inventories 2 Fair value – the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. 161 … 2019/2020. Copy and Edit. For the purpose, cost at the date of harvest is deemed to be QUIZ NEW SUPER DRAFT. IAS 2 -Inventories, explain how the items referred to in ) a and b) should be measured . Inventory Management Multiple Choice Questions and Answers for competitive exams. effendiadha_52592. 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