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The lower - of - cost-or - market value (LCM) rule O A. is an accounting issue separate from applying an inventory costing method O
The lower - of - cost-or - market value (LCM) rule O A. is an accounting issue separate from applying an inventory costing method O B. violates the conservatism principle O C. requires that merchandise inventory be reported in the financial statements at the lower of the historical cost or the selling price of the inventory O D. replaces the use of specific identification, FIFO, LIFO, or weighted - average inventory costing methods
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