FASB Definition:

a) Net Realizable Value

Estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.

b) Customer

A user or reseller.

Note: The following definition is Pending Content; see Transition Guidance in 606-10-65-1.

A party that has contracted with an entity to obtain goods or services that are an output of the entitys ordinary activities in exchange for consideration.

Book definition:

a) What is net realizable value (NRV)? It is the estimated selling price of the product in the ordinary course of business reduced by reasonably predictable costs of completion, disposal, and transportation. These costs could include things such as sales commissions and shipping costs. In other words, it's the net amount a company expects to realizefrom the sale of the inventory

b)Customer: Cost of goods sold is adjusted each time goods are sold or returned by a customer.

However, at the end of a reporting period it's important to determine the ownership of goods that are in transit between the company and its customers as well as between the company and its suppliers

1) How do the above definitions differ/agree from your text?