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What amount of impairment loss allocated to inventment

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Reference no: EM132791224

Question - Smile Company has determined that its furniture division is a cash generating unit. The entity calculated the value in use of the division to be P22,000,000. The entity has also determined that the fair value less cost of disposal of the building is P13,000,000. The carrying amounts of the assets are as follows: Building 16,000,000; Equipment 8,000,000; and Inventory 8,000,000. What amount of impairment loss should be allocated to Inventory?

Reference no: EM132791224

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