Why are inventories written down to the lower of cost or market?

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Question Posted: Jul 23, 2012 02:29 AM

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Why are inventories written down to the lower of cost or market?

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If inventory were not written down to market when market is lower than cost t...View the full answer

Cornerstones of Financial and Managerial Accounting

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