LCM/NRV is applied when the market value (often defined as current replacement cost) or net realizable value is lower than the cost of the available units. The LCM/NRV requirement to write down the closing inventory from cost to market/net realizable value has the immediate effect of reducing (a) net income and (b) the amount of inventory carried on the balance sheet.
Low or market price rules are typically applied to specific inventory items, but can also be applied to entire inventory categories. In the latter case, LCM adjustments can be avoided if there is a balance within the inventory category for items whose market value is below cost and above cost.
Low Cost or Market Value (often abbreviated as LCM) is an accounting method of valuing inventory. We assign a value to inventory at the cost of replacement in the market or the amount recorded when originally purchased, whichever is lower.
Learn more about LCM at
brainly.com/question/20629420
#SPJ4
Answer:
cvbcvjrhsfgsgdafffaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Explanation:
cvcvvc
afffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffsafsafasfadfadfdf
Answer:
a. select the board of directors of a corporation.
Explanation:
The board of directors is elected by the stockholders of a company and they are the ones responsible for hiring CEO, CFO, and the rest of the upper management of a corporation. They are also in charge of setting the corporate strategy and making important decisions, e.g. approving new projects, etc.
Stockholders do not control the company directly, the board does.
Answer:
B. Recovering from the recession.
Explanation: Manufacturing jobs are major facets of the United States of America employment channel as it is known to have employed up to about 12.3millions people as at March 2017.
This is according to the Bereau of statistics, manufacturing helped to build the middle class of the United States of America.
In recent times,the manufacturing sector is recovering from the recession, and has increased and reached an all time high in 2018.
Because the general economy takes a downturn, the company is likely to offer rebates and incentives for customers who purchase washing machines.
<h3>What are the
rebates and
incentives?</h3>
In marketing, these are techniques of marketing promotion that are used to entice, induce prospective customers.
Therefore, as the firm has expanded its capacity where the the general economy takes a downturn, it is likely to offer rebates and incentives for customers who purchase washing machines.
Read more about marketing promotion
brainly.com/question/14772910
#SPJ1