Which statement best explains "net realizable value"?
A)The amount required to re-manufacture an item of inventory.
B)The amount that can be obtained from the sale of inventory less selling costs.
C)The amount it would cost to repurchase an item of inventory.
D)The lowest amount that can be obtained from the sale of inventory.

Question

Quizplus · Accepted Answer

Net realizable value is the amount that can be obtained from the sale of inventory less any costs incurred in selling the inventory.

Which Statement Best Explains "Net Realizable Value