Diego Corporation values its inventory at the lower of cost or net realizable value as required...

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Diego Corporation values its inventory at the lower of cost or net realizable value as required by IFRS. Diego has the follow

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Answer 1

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Answer #1

please find below the solution............. let me know if you need any clarification..

As per IFRS inventory will be valued at lower of cost or net realize value which ever is lower

Cost= 100000

Net realizable value = estimated selling price less estimated costs to complete the sales = 98000-3000 = 95000

therefore correct answer is option : $95000

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Answer 2

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Diego Corporation values its inventory at the lower of cost or net realizable value as required...

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