Under IFRS, agricultural inventories, such as wheat, oranges, etc., are recorded at their fair value less estimated selling costs at the point of harvest.

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Under IFRS, agricultural inventories are recorded at their fair value less estimated selling costs at the point of harvest. This is in contrast to US GAAP, which allows for the use of either fair value or cost methods for valuing agricultural inventories.

Under IFRS, Agricultural Inventories, Such as Wheat, Oranges, Etc