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You have been asked by the financial vice president vp to

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You have been asked by the financial vice president (VP) to develop a short presentation on the lower?of?cost?or?market method for inventory purposes. The financial VP needs to explain this method to the president because it appears that a portion of the company's inventory has declined in value.

Instructions The financial VP asks you to answer the following questions. What is the purpose of the lower?of?cost?or?market method? What is meant by "market"?

Reference no: EM13612169

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