How should PD cheques be treated in purchasing inventory as per IAS 02?

When the inventory is purchase, 

Dr. Inventory (recognised Inventory)

Cr. Payable (Recognising a liability) even though a PD Cheque has been issue

When the cheque gets mature (i.e it is cashed at your bank)

Dr. Payable

Cr. Bank (with the full amount of the PD Cheque)

IAS-2 says nothing about purchase of inventory through PD Cheques. As far treatment is concerned inventory should be recorded at cost of Purchase when purchased. 

The costs of purchase of inventories comprise the purchase price, import duties and other taxes (other than those subsequently recoverable by the entity from the taxing authorities), and transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. 

Note that there is difference between cash price and credit price. Let's assume that cost of inventory is100,000.00. When we pay through cheque, we have to pay more money. How should that difference be accounted.

Inventory shall always be recognized at cost regardless of the payment through check or cash.

IAS2 deals with the Inventory

As per IAS2 inventory should initially be recognized at Cost

Cost = Purchase Price - Discount - Allow + Transportation Cost

Subsequently, Inventory should be reported at lower of Cost & NRV

While NRV = Estimated selling price - cost to sell

As far as PDCs are concerned, you have to keep  memorandum record of PDCs, now a days there are certain ERP in which you can record PDCs, when you issue PDCs , you have to credit PDCs Account rather than Bank and afterthat you have to clear this PDCs Account