[Anonymous]

So for GAAP, inventory valuation is lower of cost or market, with market being the median “middle” value of:

Price Ceiling (NRV or Sales Price – Cost to Dispose)

Replacement Cost

Price Floor (NRV – Profit Margin)

Is this correct? And is price floor NRV – (Sales – COGS)?

[D C]

You got it. The last step is to compare the “Middle Value” to the Cost on the books. Pick the lower of the two.

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[D C]

You got it. The last step is to compare the “Middle Value” to the Cost on the books. Pick the lower of the two.

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[zieba]

don't forget this is not the case for IFRS, I vowed never to open another FAR book so I can't look it up for you. Sorry.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[zieba]

don't forget this is not the case for IFRS, I vowed never to open another FAR book so I can't look it up for you. Sorry.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[D C]

Yes, for IFRS you just compare Book value to the NRV, which is SP-Cost to dispose (i.e. Ceiling value).

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[D C]

Yes, for IFRS you just compare Book value to the NRV, which is SP-Cost to dispose (i.e. Ceiling value).

B - 80
A - 71, 67, 77
R - 71, 77
F - 72, 77
DONE!!
Becker Self-study all the way! Did use Ninja Notes & Audio for FAR.

[Ima_Audit_You]

I just took FAR on May 1st and this concept was HEAVILY tested. I'm saying a good 5 or 6 MCQ on it, so make sure you've got it down.

FAR 5/1 - 83
REG 7/7 - 79
AUD 11/20 - 85
BEC 8/27 - ALMOST THERE!!

3 for 3! Study high, get high grades!!

[Ima_Audit_You]

I just took FAR on May 1st and this concept was HEAVILY tested. I'm saying a good 5 or 6 MCQ on it, so make sure you've got it down.

FAR 5/1 - 83
REG 7/7 - 79
AUD 11/20 - 85
BEC 8/27 - ALMOST THERE!!

3 for 3! Study high, get high grades!!

[Author]

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