The net method of recording the sale with the discount violates the a. Revenue recognition principle. b. Expense recognition principle. C. Cost principle. d. None of the above. If you were a CEO of a publicly held corporation and wanted to increase your company's profitability in times of rising prices which inventory valuation method would you use? LIFO b. Weighted average. FIFO d. Specific identification. a. C. What is the LCM rule concerning the valuation of inventories? a. Because of the lower cost markup principle. b. Consistency principle. C. It requires you to value inventories at their market value if it is below the cost of the inventory. d. All of the above