What disclosures are required to be made in respect of Inventories?

Ans. The following disclosures are required to be made in respect of Inventories:

• The accounting policies adopted in measuring inventories, including the cost formulae used. If standard costing has been used as a measure of cost then details of such inventories and a confirmation that standard cost approximates the actual cost; and
• The total carrying amount of inventories and its classification appropriate to the person.​