Question
What happens when the value of inventory is lower than its cost? 1. the inventory is adjusted to historical cost 2. no action is required
What happens when the value of inventory is lower than its cost?
1. the inventory is adjusted to historical cost
2. no action is required
3. the inventory is written down to its net realizable value
4. a note is added to the financial statements to inform the readers
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Performance Auditing Measuring Inputs, Outputs, And Outcomes
Authors: Stephen L. Morgan, Ronell B. Raaum, Colleen G. Waring
3rd Edition
0894139762, 9780894139765
