[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-29767":3,"doc-seo-29767":21},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"file_id":15,"file_url":16,"file_type":17,"file_size":18,"view_count":4,"is_deleted":4,"is_public":19,"is_downloadable":19,"audit_status":19,"update_tm":20},29767,13056703019404,"Miles","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","IAS 2 Inventory","This document outlines the accounting treatment for inventories as per IAS 2. It defines inventories as assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials and supplies to be consumed in the production process or in the rendering of services. The document details the initial measurement of inventories at cost, which includes purchase cost, conversion cost, and other costs incurred in bringing the inventories to their present location and condition. Purchase cost comprises the purchase price, import duties, and direct expenses, less trade discounts and rebates. Conversion cost includes direct materials, direct labor, and allocated fixed and variable production overheads. It emphasizes that fixed production overheads must be allocated based on the normal capacity of production facilities, and any abnormal wastage or unallocated overheads should be expensed. Other costs are recognized only if incurred in bringing inventories to their current state. Costs explicitly excluded from inventory costs and expensed include abnormal wastage, storage costs after production, administrative overheads not related to bringing inventories to condition and location, and selling costs. For year-end measurement, inventories are valued at the lower of cost or Net Realizable Value (NRV). NRV is defined as the estimated selling price in the ordinary course of business less estimated costs of completion and costs necessary to make the sale. The document notes that NRV can be reduced due to damage, obsolescence, deterioration, management decisions to sell at a loss, or errors in production or purchasing.","cbCaijp0zD4m1RTK","https://ap.wps.com/l/cbCaijp0zD4m1RTK","pdf",352931,1,1778284543,{"code":4,"msg":22,"data":23},"ok",{"site_id":24,"language":25,"slug":26,"title":13,"keywords":27,"description":14,"schema_data":28,"social_meta":62,"head_meta":64,"extra_data":66,"updated_unix":20},105,"en","ias-2-inventory","",{"@graph":29,"@context":61},[30,47],{"@type":31,"itemListElement":32},"BreadcrumbList",[33,37,41,44],{"item":34,"name":35,"@type":36,"position":19},"https://docshare.wps.com","Home","ListItem",{"item":38,"name":39,"@type":36,"position":40},"https://docshare.wps.com/document/","Document",2,{"item":42,"name":12,"@type":36,"position":43},"https://docshare.wps.com/document/research-report/",3,{"item":45,"name":13,"@type":36,"position":46},"https://docshare.wps.com/document/ias-2-inventory/29767",4,{"url":45,"name":13,"@type":48,"author":49,"headline":13,"publisher":51,"fileFormat":54,"description":14,"dateModified":55,"datePublished":55,"encodingFormat":54,"isAccessibleForFree":56,"interactionStatistic":57},"DigitalDocument",{"name":9,"@type":50},"Person",{"url":34,"name":52,"@type":53},"DocShare","Organization","application/pdf","2026-05-08",true,{"@type":58,"interactionType":59,"userInteractionCount":4},"InteractionCounter",{"@type":60},"ViewAction","https://schema.org",{"og:url":45,"og:type":63,"og:title":13,"og:site_name":52,"og:description":14},"article",{"robots":65,"canonical":45},"index,follow",{"doc_id":7,"site_id":24}]