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?

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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Question Posted: Jun 16, 2024 04:14 AM

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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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Financial Accounting A Business Perspective

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