Confidence votes 169. Invictus, meaning unconquerable or undefeated in Latin, is a poem by William Ernest Henley. The poem was written while Henley was in the hospital being treated for tuberculosis of the bone, also known as Pott's disease.
separate your inventory cost from the total price on your inventory invoice the inventory cost includes the costs for the items you purchased without consideration of taxes shipping or delivery your inventory cost is also referred to as the list price determine the sales tax you paid for the inventory in general the sales tax is listed at the bottom of your invoice debit your inventory account with the amount of your inventory cost entering the amount as a debit or negative figure results in an increase to the book value of your inventory
IAS 2 requires that those assets that are considered inventory should be recorded at the lower of cost or net realisable value. Cost not only includes the purchase cost but also the conversion costs, which are the costs involved in bringing inventory to its present condition and location, such as direct labour.AS 2 also requires the use of First-in, First-out (FIFO) principle whereby the items which have been in stock the longest are considered to be the items that are being used first, ensuring those items which are held in inventory at the reporting date are valued at the most recent price.