The lower-of-cost-or-market rule: can be applied to
A)can be applied to major classes or categories of inventory.
B)can be applied to the entire stock of inventory in aggregate.
C)can be applied to each individual inventory item.
D)can be applied to any of these answer choices.

Question

Quizplus · Accepted Answer

The lower-of-cost-or-market rule can be applied to major classes or categories of inventory, the entire stock of inventory in aggregate, or each individual inventory item. Therefore, the best choice is D, as the rule can be applied to any of these answer choices.

The Lower-Of-Cost-Or-Market Rule: Can Be Applied to