At 31 December, Pléscian's copper inventory is carried at 300,000, its net realisable value then being higher. In January, an abnormally large price change brings its value down to 255,000. What amount should be kept at the reporting date and what effect should be quantified for disclosure?
- Inventory recognised at 31 December
- 300,000
- Value after the price fall
- 255,000