1 ACCG 611 Principles of Accounting Accounting for Inventory 5. Cottesloe Ltd has been using the FIFO costing method to account for inventories years. The company also has a policy of paying out all of its profits in cash divideare the likely effects, adverse or otherwise, of continuing these policies?
8.Why is the lower of cost and net realisable value rule required by accounting stanit permissible to revalue inventories upwards? If so, when? Are there any limits torevaluation?
2/AASB 102, as discussed in learning objective 5 of this chapter of the text.