CERTYNEX IFRS ACADEMY

Épices Marivel applies first-in, first-out (FIFO). What does the cost of its closing inventory correspond to?

To the oldest receipts, which have remained in store since the beginning of the period.

To the most recent receipts.

To the weighted average of opening inventory and all receipts of the period.

To the batches designated by management as remaining in store at the reporting date.