Lesson · Financial statements
Inventory at year end: counting, costing and write-downs
Value Baobab's closing inventory at the lower of cost and selling price less costs to complete and sell.
9 minutes Standard as at 30 October 2026
What you will be able to do
- Value Baobab's closing inventory at the lower of cost and selling price less costs to complete and sell
- Record a write-down of damaged stock
This is a preview of a member lesson. The full lesson is in the Financial statements library, open to everyone who enrols.
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IFRS and SAM, one requirement at a time
Each week you get the Institute's new articles: one requirement of IFRS 17, IFRS 9, IFRS 15, IFRS 18 or SAM, worked on a South African case. You start with the free IFRS 18 readiness checklist, ten areas to work through before IFRS 18 takes effect, each with its paragraph reference.