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The Lower of Cost or Market rule is based on which accouring principle? conservation revenue recogrition matching full disclosure Using the lower of cost or

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The Lower of Cost or Market rule is based on which accouring principle? conservation revenue recogrition matching full disclosure Using the lower of cost or market method usually applies when inventory is held for a short times inventory is held for a long times when the market value of inventory has risen none of the above an assumption necessary to the use of the gross Profit method is that the Gross Profit amount is constant from period to period. inventroy level remand constant. the rate of Gross Profit is constant from period to period. the Gross Profit percentage increase at the rate of inflation

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