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Company XYZ cannot afford an ERP but wants to implement Ind AS 2. Identify the FIRST step in the spreadsheet-based fallback per the chapter.
ASwitch to ledger books and stop using software
BAcquire commercial inventory-valuation SaaS
COutsource inventory accounting to an external auditor
DExport the relevant data (quantities, costs, labour hours, overhead) from the accounting package into a spreadsheet, organised in labelled columns
Answer & Solution
Correct answer: D. Export the relevant data (quantities, costs, labour hours, overhead) from the accounting package into a spreadsheet, organised in labelled columns
The chapter prescribes exporting data from the accounting package into a spreadsheet (CSV/Excel), organising it in labelled columns, then applying formulae to compute material, labour and overhead costs per unit. The other options bypass the actual procedure.
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