Furthermore, the Standard also provides rulings as to the initial measurement (which should be at cost) and the subsequent measurement of inventories. There are various acceptable methods of determining cost and these includes Specific Identification, First-in First-Out (FIFO) and the Weighted Average Cost.
If you want to access the detailed content of IAS 2, you can visit the official website of the IFRS foundation through www.ifrs.org . On the other hand, if you are the type of person who hates detailed content and wants to access directly the main points provided by this Standard, you can browse www.iasplus.com which is updated regularly by Deloitte Global Services Limited which is a member of Deloitte Touche Tohmatsu Limited.
Anyway, provided in the link below is a scanned copy of the review material used during our CPA Review Sessions. The material is outlined as follows:
1. TOA.1205 Lecture Notes - which provides summarized content of the PAS 2 Inventories.
2. TOA.1205B Practice Drill - which provides multiple choice questions tailored based on the outlined flow of IAS 2.
3. TOA.1205CD Classroom Drill - which provides multiple choice questions that are usually covered during the actual CPA Board Examinations.