The American business that had a monopoly on the fur trade in the far west was founded by John Jacob Astor.
The business was called American Fur Company. Since it was founded, the company grew to monopolize the fur trade in the United States by 1830. It became one of the largest and wealthiest businesses in the United States.
We must pick between the historic cost or the net realizable value the lower. The reasoning behind this is the conservatism accounting principle to keep the assets valued at minimum.
