Question
If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount to be used
If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount to be used for purposes of inventory valuation is: a) original cost b) market value c) net realizable value d) net realizable value less a normal profit margin
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
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