Which of the following is not a generally accepted basis for inventory valuation?
A)net realizable value
B)variable manufacturing cost
C)replacement cost
D)acquisition cost
E)net realizable value reduced by a normal profit margin

Question

Quizplus · Accepted Answer

Variable manufacturing cost is not a generally accepted basis for inventory valuation. The generally accepted bases for inventory valuation are acquisition cost, net realizable value, replacement cost, and net realizable value reduced by a normal profit margin.

Which of the Following Is Not a Generally Accepted Basis