Under U.S.GAAP,inventories are reported on the balance sheet at:

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Under U.S. GAAP, inventories are reported on the balance sheet at lower-of-cost-or-market (LCM). LCM means that if the market price of the inventory falls below its recorded cost, the inventory must be written down to its market value. Therefore, inventory is reported at either its historical cost or its current market value, whichever is lower. This approach ensures that inventory is reported on the balance sheet at its most conservative value.

Under USGAAP,inventories Are Reported on the Balance Sheet At