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Darina [25.2K]
3 years ago
10

Which of the following assets must be reported at the​ lower-of-cost-or-market value? A. Merchandise Inventory B. Accounts Recei

vable C. Notes Receivable D. Prepaid Insurance
Business
1 answer:
neonofarm [45]3 years ago
6 0

Answer:

The correct answer is letter "A": Merchandise Inventory.

Explanation:

Lower-of-cost-or-market value is a strategy by which the costs of inventory on the company's Balance Sheet is reported at historical value -purchase cost- or market value, whatever it is lower. The lower-of-cost-or-market approach considers the value of inventory can change, meaning it can increase but it can decrease as well. For both purposes, the lower-of-cost-or-market value can be used. This technique follows the Generally Accepted Accounting Principles (GAAP).

Therefore, <em>merchandise inventory, which can fluctuate in price during a period, is reported using the lower-of-cost-or-market value method.</em>

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The publisher from needs to change his calculations. Before the book is actually produced, rising paper costs increase variable
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Answer:

ABC Daycare

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Answer:

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