Patent ID: 8108271
Filing Date: 2012-01-31
Classification: G06Q

Abstract:
1. A system for lower of cost or market value monitoring and notification comprising: a computing system; and a processor for executing a process for lower of cost or market value monitoring and notification, the process for lower of cost or market value monitoring and notification comprising: obtaining an identification and a purchase price of an inventory item, the inventory item being an item purchased at the purchase price by a business and which is now held as inventory; periodically obtaining a market value of the inventory item; periodically comparing the purchase price of the inventory item with the market value of the inventory item; and determining that the market value of the inventory item indicates the market value of the inventory item is less than the purchase price of the inventory item; and alerting a user of the process for lower of cost or market value monitoring and notification of change in market value of the inventory item.