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    <description>This guidance defines the objective of determining the carrying amount of inventories by applying specified cost formulas and recognising write-downs to net realisable value, notes that inventory valuation affects profit or loss and the balance sheet, and excludes measurement of certain financial instruments, biological assets, producers of agricultural/forest/mineral products and commodity broker traders when those inventories are measured at net realisable value or fair value less costs to sell with changes recognised in profit or loss.</description>
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