Inventory Measurement
Interactive English Text
Which of the following statements regarding the measurement of inventories is correct based on the general accounting standards described in the source?
Japanese Translation
Translation Hidden
Q
Comprehension Quiz
A
Inventories are measured at the higher of cost and net realizable value.
B
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
C
The specific identification method must be applied to all inventories regardless of their nature or use.
D
Reversal of inventory write-downs is strictly prohibited under all circumstances.