Accounting for IGCSE & O level - Final Statements (Section 1 - No. 17)
What is the main purpose of inventory valuation?
To determine the cost of goods sold (COGS).
To determine the value of ending inventory.
To provide useful information for the income statement and the balance sheet.
All of the above.
Explanation
All of the above. Inventory valuation impacts the income statement and balance sheet and it is used for many purposes.
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