Under the lower-of-cost-or-market rule

Reference no: EM13862456

Under the lower-of-cost-or-market rule, the cost of inventory is reduced if the market value falls below the initial cost of the inventory.Why not increase the cost of inventory if the market value is higher than the initial cost of the inventory?

Reference no: EM13862456

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Under the lower-of-cost-or-market rule : Under the lower-of-cost-or-market rule, the cost of inventory is reduced if the market value falls below the initial cost of the inventory.Why not increase the cost of inventory if the market value is higher than the initial cost of the inventory?

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