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Evaluation method in precious metals inventory

What kind of evaluation method should be used for precious metals inventory?

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Good morning, 

I'm doing some research about precoius metals inventory and I would like to ask you which is the best evaluation method for the preocious metals inventory since for the IAS 2 LIFO isn't permitted.

Thank you! 

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By paul.benny
18th Apr 2019 16:21

Best for what purpose?
Insurance? - replacement cost
Statutory accounts? - something that approximates to actual, probably FIFO or weighted average. Would need disclosure of replacement cost
Cost accounting - probably standard cost

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