In applying the lower of cost and net realizable value (NRV) to inventory valuation, NRV is defined as the current selling price.

Name: In applying the lower of cost and net realizable value (NRV) to inventory valuation, NRV is defined as the current selling price.
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Quizplus · Accepted Answer

NRV is defined as the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. It may not always be equal to the current selling price.

In Applying the Lower of Cost and Net Realizable Value