Valuation of inventories requires the determination of all of the following except
A) the costs to be included in inventory.
B) the physical goods to be included in inventory.
C) the cost of goods held on consign?ment from other companies.
D) the cost flow assumption to be adopted.

Question

Quizplus · Accepted Answer

Valuation of inventories requires the determination of the costs to be included in inventory, the physical goods to be included in inventory, and the cost flow assumption to be adopted. However, the cost of goods held on consignment from other companies is not included in the inventory valuation as they are not owned by the company and are only held on behalf of the consignor.

Valuation of Inventories Requires the Determination of All of the Following