Answer:
Product 1 - $36
Product 2 - $ 96
Product 3 - $66
Explanation:
The accounting standard for Inventory under IFRS IAS 2 requires that inventory be recognized at cost which includes all the cost incurred to bring the item of inventory to a state or place where the item of inventory becomes available for sale.
These costs includes cost of purchase, freight, Insurance cost during transit etc.
Subsequently, inventory is to be carried at the lower of cost or net realizable value.
The NRV is the Selling price less the cost to sell.
Given
Product 1 Product 2 Product 3
Cost $36 $ 106 $ 66
Selling price $ 88 $ 168 $ 118
Costs to sell $ 9 $ 72 $ 26
NRV $ 79 $ 96 $ 92
I’m going to go with false.
Andean Pact, I believe it the correct answer! Hope it helps!
Answer:
Transaction gain = $16 million
Explanation:
Given:
Purchase amount = $52 million
December 31, 2021, bonds value = $46 million
October 3, 2022, bonds sold = $62 billion
Computation:
Using multi-step approach
Transaction gain = October 3, 2022, bonds sold - December 31, 2021, bonds value
Transaction gain = $62 million - $46 million
Transaction gain = $16 million
The personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks
<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>
A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.
Some of these specific limits apply to a building or personal property at a single location.
From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks
Learn more on specific limitations on coverage here: brainly.com/question/27015627
