CONCEPTUAL

FRAMEWORK AND
ACCOUNTING STAN-
DARDS
 PAS 2
Inventories

Learning Objectives:
1. Define inventories.
2. Measure inventories and apply the cost formulas.
3. State the accounting for inventory write-down and the reversal thereof.
WEIGHTED AVERAGE – PERIODIC BASIS
WEIGHTED AVERAGE – MOVING AVERAGE
ADDITIONAL ILLUSTRATION (Seatwork):

Compute for the cost of sales using FIFO, Periodic & Moving
Average Basis.
 Thank you
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