Situations in which net realizable value is used to value inventory include
A) agricultural inventory.
B) minerals and mineral products.
C) commodities held by broker-traders.
D) All of these are correct.

Question

Quizplus · Accepted Answer

Net realizable value (NRV) is used to value inventory in situations where the selling prices of products are uncertain or subject to change. This includes agricultural inventory, minerals and mineral products, and commodities held by broker-traders. Therefore, all of these options are correct.

Situations in Which Net Realizable Value Is Used to Value