Inventory is written down to net realizable value if the net realizable value is lower than its cost

Name: Inventory is written down to net realizable value if the net realizable value is lower than its cost
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inventory is written down to net realizable value when its net realizable value is lower than its cost to reflect the loss in value, in accordance with accounting principles like the lower of cost or market rule.

Inventory Is Written Down to Net Realizable Value If the Net