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Your company has not yet decided how it will apply LCNRV to its inventory. If management wants to minimize the value of ending inventory, it
- Your company has not yet decided how it will apply LCNRV to its inventory. If management wants to minimize the value of ending inventory, it should:
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| apply LCNRV by item. | |
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| apply LCNRV to total inventory. | |
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| apply LCNRV by group, or "by class." |
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Auditing Principles
Authors: Nformi Eugene Tawe
1st Edition
3330651032, 978-3330651036
