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Describe the lower of cost or market rule (LCM) and how it differs from the lower of cost or net realizable value rule. a) Description
Describe the lower of cost or market rule (LCM) and how it differs from the lower of cost or net realizable value rule.
a) Description of the LCM rule
b) Use of floors and ceilings
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Frank Woods Business Accounting An Introduction To Financial Accounting
Authors: Alan Sangster, Lewis Gordon, Frank Wood
15th Edition
1292365439, 9781292365435
