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What is Deemed Cost of Inventories Explained about?

1) The deemed cost of agricultural produce harvested from biological assets is the fair value less costs to sell at harvest point. 2) Goods in transit are owned by the seller if purchased FOB Seller and by the buyer if purchased FOB Buyer. 3) Initial measurement of inventories is at cost, comprising all costs to bring the inventory to its present location and condition such as purchase costs, conversion costs, and other costs.

Author

lizie elizalde

Language

EN