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SingaporeAccountingQuick questions
Inventory and Bank Reconciliation
Quick questions on Inventory valuation: N(A)-Level Principles of Accounts
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
A line of inventory cost \900\. State the value to use. [1 mark]
What is q2?Show answer
State what net realisable value means. [2 marks]
What is q3?Show answer
Explain why valuing inventory above cost would break the prudence concept. [2 marks]
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