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rolpace88 rolpace88
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8 years ago
The lower-of-cost-or-market (LCM) rule:
A) all of these apply to the LCM rule
B) may be used with weighted-average, FIFO, or LIFO methods
C) identifies market value as current replacement cost
D) compares market value with the cost of each item on hand, and the lower amount is used
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Business Math

Business Math


Edition: 10th
Authors:
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MillionMillion
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#1
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8 years ago
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rolpace88 Author
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#2
8 years ago
Not sure why I found this tricky. Now that I know the answer, it's almost self-explanatory.
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#3
8 years ago
Great, please mark the topic solved!
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