Why is it acceptable accounting practice to recognize a loss by writing down an item in inventory

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Why is it acceptable accounting practice to recognize a loss by writing down an item in inventory to market, but unacceptable to recognize a gain by writing up an inventory item? pg25

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Accounting A Business Perspective

ISBN: 9780075615859

7th Edition

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

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Question Posted: Jul 01, 2024 02:05 AM

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Why is it acceptable accounting practice to recognize a loss by writing down an item in inventory to market, but unacceptable to recognize a gain by writing up an inventory item?
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Why is it acceptable accounting practice to recognize a loss by writing down an item in inventory

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Accounting A Business Perspective

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