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FASB has recently changed its rules for accounting for inventory at LCM. The primary rule now is LCNRV, with two exceptions for the use of

FASB has recently changed its rules for accounting for inventory at LCM. The primary rule now is LCNRV, with two exceptions for the use of LCM.

1. Why did FASB make this change? Do you agree with the FASB rule change? Support your position.

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