Replacement costs are measured based upon GAAP's requirement of an upper and a lower constraint on the market value when applying the LIFO or retail inventory methods. What are the upper and lower constraints?

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The Answer of Replacement costs are measured based upon GAAP's requirement of an upper and a lower constraint on the market value when applying the LIFO or retail inventory methods. What are the upper and lower constraints?

Replacement Costs Are Measured Based Upon GAAP's Requirement of an Upper