CFC Exame De Suficiência Practice Questions - CFC Exame De Suficiência Em Contabilidade Exam

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A commercial entity presents 1,000 units of a merchandise in inventory at an acquisition cost of R$ 120.00 per unit. At the end of the reporting period, market conditions changed and the estimated selling price dropped to R$ 130.00 per unit, while estimated selling expenses and freight costs required to complete the sale are estimated at R$ 25.00 per unit. According to NBC TG 16 (R1) / CPC 16 (Estoques), what is the valuation of the inventory on the balance sheet and the impairment impact on profit or loss?

Inventory valued at R$ 120,000.00, with no impairment loss recognized since the selling price (R$ 130.00) exceeds cost. Inventory valued at R$ 105,000.00, with an impairment loss of R$ 15,000.00 recognized in profit or loss. Inventory valued at R$ 130,000.00, with a valuation gain of R$ 10,000.00 recognized in profit or loss. Inventory valued at R$ 95,000.00, with an impairment loss of R$ 25,000.00 recognized in equity.

Correct Answer:

Inventory valued at R$ 105,000.00, with an impairment loss of R$ 15,000.00 recognized in profit or loss.

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