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Which of the following is not an assertion about the presentation and disclosure of inventory? Inventory is properly classified as a current asset on the
Which of the following is not an assertion about the presentation and disclosure of inventory?
Inventory is properly classified as a current asset on the balance sheet.
Inventory is properly valued based on the lower of cost or market principle.
The LIFO inventory valuation method used by the company is adequately disclosed in notes.
Inventory is properly classified into raw materials, workinginprogress, and finished goods.
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