far a 1142021

  1. Under -----------, inventory is measured at the lower of cost or NRV (estimated selling price in the ordinary course of business – estimated costs of completion and sale).
    Under IFRS, inventory is measured at the lower of cost or NRV (estimated selling price in the ordinary course of business – estimated costs of completion and sale).
  2. Under IFRS, inventory is measured at the -------------------- (estimated selling price in the ordinary course of business – estimated costs of completion and sale).
    Under IFRS, inventory is measured at the lower of cost or NRV (estimated selling price in the ordinary course of business – estimated costs of completion and sale).
  3. Under IFRS, inventory is measured at the lower of cost or NRV (estimated selling price in the ordinary course of business – -------------------------------------------).
    Under IFRS, inventory is measured at the lower of cost or NRV (estimated selling price in the ordinary course of business – estimated costs of completion and sale).
  4. Inventory accounted for using -------------------------- is measured at the lower of cost or market (LCM).
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  5. Inventory accounted for using LIFO or the retail inventory method is measured at the ----------------------------------.
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  6. -----------is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion and disposal.
     NRV is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion and disposal.
  7. NRV is the estimated selling price in the ordinary course of business minus --------------------------------------------------
    NRV is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion and disposal.
  8. Market is the current cost to replace inventory, subject to certain limitations. Market should not (1)------------------------------------------------------------------ or (2) be less than a floor equal to NRV reduced by an allowance for an approximately normal profit margin.
    Market is the current cost to replace inventory, subject to certain limitations. Market should not (1) exceed a ceiling equal to net realizable value (NRV) or (2) be less than a floor equal to NRV reduced by an allowance for an approximately normal profit margin.
  9. Market is the current cost to replace inventory, subject to certain limitations. Market should not (1) exceed a ceiling equal to net realizable value (NRV) or (2)-----------------------------------------------------------------------------------
    Market is the current cost to replace inventory, subject to certain limitations. Market should not (1) exceed a ceiling equal to net realizable value (NRV) or (2) be less than a floor equal to NRV reduced by an allowance for an approximately normal profit margin.
  10. ------------- is the current cost to replace inventory, subject to certain limitations. ------------ should not (1) exceed a ceiling equal to net realizable value (NRV) or (2) be less than a floor equal to NRV reduced by an allowance for an approximately normal profit margin.
     Market is the current cost to replace inventory, subject to certain limitations. Market should not (1) exceed a ceiling equal to net realizable value (NRV) or (2) be less than a floor equal to NRV reduced by an allowance for an approximately normal profit margin.
  11. Inventory accounted for using --------------------------------- method is measured at the lower of cost or market (LCM).
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  12. Inventory accounted for using LIFO or the retail inventory method is measured at -----------------------------------------.
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  13. Inventory accounted for using -------------------- is measured at the lower of cost or net realizable value.
    Inventory accounted for using FIFO or average cost is measured at the lower of cost or net realizable value.
  14. Inventory accounted for using FIFO or average cost is measured at -----------------------------------------------.
    Inventory accounted for using FIFO or average cost is measured at the lower of cost or net realizable value.
  15. The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as -----------------------------------------------------However, if the amount of loss is material, it should be presented as a separate line item in the current-period income statement.
    The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a separate line item in the current-period income statement.
  16. The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a separate line item in the ------------------------------------------------
    The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a separate line item in the current-period income statement.
  17. The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if ---------------------------------, it should be presented as a separate line item in the current-period income statement.
    The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a separate line item in the current-period income statement.
  18. The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a --------------------------- in the current-period income statement.
    The loss on write-down of inventory to market or net realizable value (NRV) generally is presented as a component of cost of goods sold. However, if the amount of loss is material, it should be presented as a separate line item in the current-period income statement.
  19. ------is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.
    NRV is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.
  20. NRV is the estimated selling price in the ordinary course of business --------------------------------------------------------
    NRV is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.
  21. ----------------------------------- is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.
    Net realizable value (NRV) is the estimated selling price in the ordinary course of business minus reasonably predictable costs of completion, disposal, and transportation.
  22. Inventory must be written down below cost subsequent to acquisition if --------------------------------------------. The difference should be recognized as a loss of the current period.
    Inventory must be written down below cost subsequent to acquisition if its utility is no longer as great as its cost. The difference should be recognized as a loss of the current period.
  23. Inventory must be written down below cost subsequent to acquisition if its utility is no longer as great as its cost. The difference should be recognized as a loss of the --------------------.
    Inventory must be written down below cost subsequent to acquisition if its utility is no longer as great as its cost. The difference should be recognized as a loss of the current period.
  24. inventory accounted for using the first-in, first-out (FIFO) method must be measured at ---------------------------------------------------
    inventory accounted for using the first-in, first-out (FIFO) method must be measured at the lower of cost or net realizable value.
  25. Inventory accounted for using ----------------- method is measured at the lower of cost or market (LCM).
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  26. Inventory accounted for using LIFO or the retail inventory method is measured at -----------------------------------------.
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  27. Under -------, inventories are measured at the lower of cost or net realizable value (NRV).
    Under IFRS, inventories are measured at the lower of cost or net realizable value (NRV).
  28. Under IFRS, inventories are measured at the ----------------------------------------------
    Under IFRS, inventories are measured at the lower of cost or net realizable value (NRV).
  29. Inventory accounted for using LIFO or the retail inventory method is measured at the -------------------------------.
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  30. Inventory accounted for using --------------------------------- method is measured at the lower of cost or market (LCM).
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market (LCM).
  31. ---------- is the replacement cost of the inventory as determined in the ---------- in which the entity buys its inventory, not the market in which it sells to customers. ---------- is limited to a ceiling amount equal to net realizable value and a floor amount equal to net realizable value minus a normal profit margin.
    Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to net realizable value and a floor amount equal to net realizable value minus a normal profit margin.
  32. Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to --------------------- and a floor amount equal to ----------------------------------------.
    Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to net realizable value and a floor amount equal to net realizable value minus a normal profit margin.
  33. Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to -------------------------- and a floor amount equal to net realizable value minus a normal profit margin.
    Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to net realizable value and a floor amount equal to net realizable value minus a normal profit margin.
  34. Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to net realizable value and a floor amount equal to ------------------------------------------------------------
    Market is the replacement cost of the inventory as determined in the market in which the entity buys its inventory, not the market in which it sells to customers. Market is limited to a ceiling amount equal to net realizable value and a floor amount equal to net realizable value minus a normal profit margin.
  35. Under -----------, inventories are measured at the lower of cost or net realizable value (NRV).
    Under IFRS, inventories are measured at the lower of cost or net realizable value (NRV).
  36. Under IFRS, inventories are measured at the-------------------------------------------------
    Under IFRS, inventories are measured at the lower of cost or net realizable value (NRV).
  37. Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market. Market is current replacement cost subject to maximum and minimum values. The maximum is net realizable value, and the minimum is net realizable value less normal profit. When ----------------------------------- is within this range, it is used as the market amount.
    Inventory accounted for using LIFO or the retail inventory method is measured at the lower of cost or market. Market is current replacement cost subject to maximum and minimum values. The maximum is net realizable value, and the minimum is net realizable value less normal profit. When replacement cost is within this range, it is used as the market amount.
Author
Joens1313
ID
354176
Card Set
far a 1142021
Description
far a 1142021
Updated