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12.Which statement is true regarding the lower-ofcost-ormarket (LCM) method of inventory? A) LCM is an example of the revenue recognition principle. B) LCM is departure

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12.Which statement is true regarding the lower-ofcost-ormarket (LCM) method of inventory? A) LCM is an example of the revenue recognition principle. B) LCM is departure from the cost basis of accounting. C) Market is defined as current selling price. D) Inventory is adjusted to market value each accounting period

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