Which of the following inventories may NOT be valued at fair value less costs to sell?
A) grain and livestock futures
B) biological assets
C) farm equipment
D) agricultural produce

Question

Quizplus · Accepted Answer

Farm equipment is considered a non-current asset and is instead valued at cost less accumulated depreciation. The other options listed are considered current assets and can be valued at fair value less costs to sell.

Which of the Following Inventories May NOT Be Valued at Fair