Lower of cost and net realizable value as it applies to inventory is best describes as the

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Lower of cost and net realizable value as it applies to inventory is best describes as the

A. Reporting of a loss when there is a decrease in the future utility below the original cost
B. Method of determining cost of goods sold
C. Assumption to determine inventory flow
D. Change in inventory value to net realizable value

Answer: A. Reporting of a loss when there is a decrease in the future utility below the original cost

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