All of the Following Statements About the Presentation of Inventory

Multiple Choice

All of the following statements about the presentation of inventory in financial reports are correct except for:

A) The general basis of valuation should be shown,e.g. cost, NRV.
B) The assumption used to assign costs to inventory should be disclosed.
C) Inventory should be classified into its current and non-current components.
D) Inventory shown on the balance sheet should always be in a saleable condition.