# ASC 330-932-35: Inventory — Extractive Activities—Oil and Gas — 35 Subsequent Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/330/932/#35-subsequent-measurement)

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## ASC 330-932-35: 35 Subsequent Measurement

[Read section](https://asc.understandingaccounting.org/asc/330/932/#35-subsequent-measurement)

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##### [330-932-35-1](https://asc.understandingaccounting.org/asc/330/932/#330-932-35-1)

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Energy trading contracts that are not accounted for as derivatives in accordance with Topic 815 on derivatives and hedging shall not be measured subsequently at fair value through earnings. Entities shall not measure physical inventories at fair value, except as provided by guidance in other Topics.

#### Exchanges of Inventory

##### [330-932-35-2](https://asc.understandingaccounting.org/asc/330/932/#330-932-35-2)

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For exchanges of inventories, the buying and selling of inventory with the same counterparty, see paragraphs

[845-10-15-5 through 15-9](https://asc.understandingaccounting.org/asc/845/10/#845-10-15-5)

.