Accountıng I Deneme Sınavı Sorusu #1132451
Which of the followings is a valuation method which requires inventory to be reported in financial statements at whichever is lower – its historical cost or its market value.
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Lower of Cost Method(LCM) |
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Specific Identification Method |
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Average Cost Method |
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First-In, First-Out (FIFO) Method |
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Last-In, First-Out (LIFO) Method |
Yanıt Açıklaması:
Lower of Cost or Market Value Method (LCM) is a valuation method which requires inventory to be reported in financial statements at whichever is lower – its historical cost or its market value.
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