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Rule: Companies that use LIFO or the retail inventory method report inventory using the lower of cost or market (LCM) approach. Using the FASB Accounting
Rule: Companies that use LIFO or the retail inventory method report inventory using the lower of cost or market (LCM) approach. Using the FASB Accounting Standards Codification, identify the FASB ASC Reference that confirms the above rule. 4
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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes
5th Edition
0470251395, 978-0470251393
