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kenny6666 [7]
2 years ago
14

which situation requires a departure from the cost basis of accounting to the lower-of-cost-or-market basis in valuing inventory

?
Business
1 answer:
alisha [4.7K]2 years ago
8 0

Answer:

Decline in the value of inventory

Explanation:

To comply with the concepts of conservatism, inventory should be valued at the lower-of-cost-or-market when there is a decline in inventory

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Explanation:

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