Inventory is usually carried in the accounting records at

Name: Inventory is usually carried in the accounting records at
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inventory is usually carried in the accounting records at lower of cost or market. This means that the inventory is valued at the lower of its original cost or the market value at which it can be sold. This conservative approach ensures that inventory is not overvalued on the balance sheet, which can lead to overstatement of profits and misleading financial statements.

Inventory Is Usually Carried in the Accounting Records at