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Which of the following values is considered the market value when valuing inventory at lower-of-cost-or-market...

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Question

Accounting

Which of the following values is considered the market value when valuing inventory at lower-of-cost-or-market under U.S. GAAP?

A.

cost plus the company's normal mark-up percentage

B.

sales price less the company's normal mark-up percentage

C.

historic cost

D.

current replacement cost

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