Ideally, the lower-of-cost and NRV technique should be applied an item-by-item basis or by category when this is not possible.

Name: Ideally, the lower-of-cost and NRV technique should be applied an item-by-item basis or by category when this is not possible.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The lower-of-cost and NRV technique should ideally be applied on an item-by-item basis. However, if it is not feasible to apply the technique on an item-by-item basis, it can be applied on a category basis.

Ideally, the Lower-Of-Cost and NRV Technique Should Be Applied an Item-By-Item