Regardless of the inventory cost flow assumption used, inventories on the balance sheet are stated at:
A)original cost.
B)realizable value.
C)replacement cost.
D)the lower of cost or market.

Question

Quizplus · Accepted Answer

Inventories on the balance sheet are stated at the lower of cost or market to ensure they are not overstated and reflect the potential loss in value.

Regardless of the Inventory Cost Flow Assumption Used, Inventories on the Balance