closing stock - horses
Client runs a stud breeding horses for sale as race horses.
Closing stock consists of 15 horses, some racehorses, some broodmares, some foals.
I am reviewing the nrv against cost on a horse by horse basis. Is that correct - i.e. you dont treat the group of horses as a class and compare cost and nrv in total?
Also, where the nrv is lower than cost, where do I post the difference to? is it treated as realised or unrealised?
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