If the company's inventory items have declined in value from damage or obsolescence, what effect will the lower-of-cost-or-market rule have on the amount of inventory shown on the balance sheet? Why?

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The Answer of If the company's inventory items have declined in value from damage or obsolescence, what effect will the lower-of-cost-or-market rule have on the amount of inventory shown on the balance sheet? Why?

If the Company's Inventory Items Have Declined in Value from Damage