Lower of Cost or Market | LCM |Inventory Errors | Inventory Turnover ratios | CPA Exam ch 5

Описание к видео Lower of Cost or Market | LCM |Inventory Errors | Inventory Turnover ratios | CPA Exam ch 5

IN this video, I discuss lower of cost or market. The lower of cost or market rule states that a business must record the cost of inventory at whichever cost is lower – the original cost or its current market price. Lower of cost or market (LCM) is an inventory valuation method required for companies that follow U.S. GAAP.

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