Accounting Multiple Choice Question – 9 August 2023

How should inventory be valued in published accounts?

Select ONE answer:

1. cost
2. net realisable value
3. replacement cost
4. the lower of cost and net realisable value

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

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