When following U.S. GAAP, the market value of inventory is always equal to the net realizable value.

Name: When following U.S. GAAP, the market value of inventory is always equal to the net realizable value.
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Quizplus · Accepted Answer

Under U.S. GAAP, inventory is valued at the lower of cost or market, where "market" is defined as replacement cost, but not exceeding net realizable value or falling below net realizable value less a normal profit margin.

When Following U