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Business, 01.08.2020 19:01 alicemareus
The original cost of a LIFO inventory item is below both replacement cost and net realizable value. The net realizable value less normal profit margin is below the original cost. Under the lower of cost or market method for LIFO or retail method inventories, the inventory item should be valued at
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The original cost of a LIFO inventory item is below both replacement cost and net realizable value....
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