Which of the following is the same as 'net realisable value' of inventory?
A) Gross selling price.
B) Proceeds of sale less all further marketing, selling and distribution costs.
C) Average cost.
D) Replacement price.

Question

Quizplus · Accepted Answer

Net realisable value is defined as the estimated selling price in the ordinary course of business less, where applicable, estimated further costs to be incurred in completing, marketing, selling and distributing to customers.

Which of the Following Is the Same as 'Net Realisable