(Answered) Inventories should be valued at the lower of cost and net

Accounting

"Inventories should be valued at the lower of cost and net realizable value" - SAS 4 - Stocks.

(a) Discuss FOUR methods of valuing stock.

(b) Distinguish between „Cost? and „Net realizable value?.

Write a short note on "replacement" cost emphasizing its applicability or otherwise in these days of rising prices.

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