When applying the lower-of-cost-or-market rule to inventory valuation in the United States,market value generally refers to the selling price of the inventory.

Name: When applying the lower-of-cost-or-market rule to inventory valuation in the United States,market value generally refers to the selling price of the inventory.
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Market value, in the context of the lower-of-cost-or-market rule for inventory valuation, generally refers to the current replacement cost of the inventory, not the selling price.

When Applying the Lower-Of-Cost-Or-Market Rule to Inventory Valuation in the United