CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

The lower-of-cost-or-market rule can be applied directly to ______.
A. each inventory item/category only
B. total inventory only
C. each item, each category, or total inventory
Explanation: The most common practice is to price the inventory on an item-by-item basis. Whichever method selected should be applied consistently from one period to another.

User Contributed Comments 0

You need to log in first to add your comment.