When the value of inventory falls below its cost,companies other than those that use LIFO have the option of recording the inventory at cost or the lower net realizable value.Companies must report inventory at the lower of cost and net realizable value.

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The Answer of When the value of inventory falls below its cost,companies other than those that use LIFO have the option of recording the inventory at cost or the lower net realizable value.Companies must report inventory at the lower of cost and net realizable value.

When the Value of Inventory Falls Below Its Cost,companies Other