IAS 2 Requires That Inventory Is Valued At

IAS 2 requires that inventory is valued at:

A) the lower of cost and recoverable value, on an item-by-item basis where practicable.
B) cost or fair value for classes of assets and services that are defined as inventories.
C) the lower of cost and net realisable value, on an item-by-item basis where practicable.
D) cost or deprival value, whichever is the lower, for classes of inventories.