Current Asset Inventory: Apply Lower of Cost or Market Rule
Channel: ProfAlldredge
Date: 2015-02-11

Accounting conservatism requires that inventory be valued and reported on the balance sheet at the lessor of inventory cost (as determined by FIFO, LIFO, etc...) or "market", which is often replacement cost.  This video shows how to apply this rule.
@ProfAlldredge 
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