What you Need to Know About Inventories for IAS 2

Scope of IAS 2 Inventories IAS 2 applies to all inventories except: Financial instruments (IFRS 9/IAS 39) Biological assets (IAS 41) Does not apply to measurement of inventories held by: Producers of agricultural and forest products measured at NRV. Minerals and mineral products measured at NRV. Commodity brokers who measure inventory at fair value less …

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