Which of the following criteria does NOT have to be met in order to be able to value inventory above cost?
A) The cost of disposal can be estimated.
B) The sale is assured.
C) There is an active market for the product.
D) The sale must already have occurred.

Question

Quizplus · Accepted Answer

In order to value inventory above cost, it is not necessary for the sale to have already occurred. However, the other criteria listed (A, B, and C) are relevant factors to consider when determining whether inventory can be valued above cost.

Which of the Following Criteria Does NOT Have to Be