Which of the following criteria does NOT have to be met in order to be able to value inventory ABOVE cost?
A)The cost of disposal can be estimated.
B)The sale is assured.
C)There is an active market for the product.
D)The sale must already have occurred.

Question

Quizplus · Accepted Answer

The sale does not need to have already occurred to value inventory above cost; rather, there must be assurance of sale, an active market, and estimable disposal costs.

Which of the Following Criteria Does NOT Have to Be