ACCA

Inventory Valuation

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ACCA FA — Financial Accounting Practice Exam 3

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Q11Medium2 marks·ACCA FA — Financial Accounting Practice Exam 3

TechNova holds 1,000 units of a specialized microchip in inventory. The chips cost $50 each to manufacture. Due to a recent technological advancement, these chips can now only be sold for $45 each. To sell them, TechNova must incur packaging and delivery costs of $3 per unit. At what total value should this inventory be stated in the financial statements according to IAS 2?

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