The consistency principle allows companies to use different inventory valuation methods period to period as long as the changes are fully disclosed.

Name: The consistency principle allows companies to use different inventory valuation methods period to period as long as the changes are fully disclosed.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The consistency principle requires companies to use the same inventory valuation method period to period unless a change is necessary and fully disclosed.

The Consistency Principle Allows Companies to Use Different Inventory Valuation