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A company has two inventory items of a similar nature and use. One item is held at the company's headquarters in Spain and one is held in France. Using IFRS:
A) The company can use different cost flow assumptions for the inventory.
B) The company must use different cost flow assumptions for the inventory.
C) The company must use the same cost flow assumptions for the inventory.
D) IFRS does not have a rule relating to inventory items in different locations.
Using these data, state or compute for the year the following amounts , Direct materials puchased for this answer I put $410,00 but what is the credit entry then and what is the connection with the end and beginning of the year. confused here.
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