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Setup steps for inventory valuation Net Realizable Value (NRV) vs Lower of actual cost

edited Sep 22, 2015 10:06AM in Cost Management - EBS (MOSC) 2 commentsAnswered

Hello,

Is there a setup steps document for inventory valuation based on "Net Realizable Value (NRV)=Lower of its cost of the estimated sale price minus the costs of completing the sale" vs "Lower of actual cost" for FIFO/Average Cost methods in Cost Management R11i/R12?

This is a new requirement for US GAAP  in attached reference in Paragraph 330-10-35-1B in this document:

http://www.fasb.org/jsp/FASB/Document_C/DocumentPage?cid=11e76166207669&acceptedDisclaimer=true

It seems to be a one step forward to IFRS compliance according to this article:

http://www.iasplus.com/en-us/standards/ifrs-usgaap/inventories

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