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Exercise 9-7 (Static) FASB codification research (LO9-3, 9-6, 9-7) Access the FASB Accounting Standards Codification at the FASB website (www.fosb.org). Determine each of the following:

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Exercise 9-7 (Static) FASB codification research (LO9-3, 9-6, 9-7) Access the FASB Accounting Standards Codification at the FASB website (www.fosb.org). Determine each of the following: 1. The specific seven-digit Codification citation (XXX-XX-XX) that contains discussion of the measurement of ending inventory using the lower of cost or net realizable value (LCNRV) rule and the lower of cost or market (LCM) rule. 2. The specific eight-digit Codification citation (XXX.XX.XX.X) that describes the measurement of the ceiling using the lower of cost or market (LCM) rule. 3. The specific eight-digit Codification citation (XXX.XX.XXX) that describes the measurement of the floor using the lower of cost or market (LCM) rule. Requirement Tople Subtopic Section Paragraph 1 2 3

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