Under the lower-of-cost-or-market rule the cost of


Under the lower-of-cost-or-market rule, the cost of inventory is reduced if the market value falls below the initial cost of the inventory.Why not increase the cost of inventory if the market value is higher than the initial cost of the inventory?

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Accounting Basics: Under the lower-of-cost-or-market rule the cost of
Reference No:- TGS01147388

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