The lower of cost or market rule is based on which accounting principle

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asked Jun 4, 2024 97.5k views

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Greenev · Answer 1 · 2024-06-07T23:08:56+0000

Step-by-step explanation:

The lower of cost or market (LCM) method relies on the fact that when investors value a company's inventory, those assets shall be recorded on the balance sheet at either the market value or the historical cost.

The lower of cost or market rule is based on which accounting principle

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