A loss resulting from application of the lower-of-cost-or-market rule is included in Cost of Goods Sold if the loss is material in amount.

Name: A loss resulting from application of the lower-of-cost-or-market rule is included in Cost of Goods Sold if the loss is material in amount.
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A loss from the lower-of-cost-or-market rule is typically reported as a separate line item in the income statement if it is material, not included in Cost of Goods Sold.

A Loss Resulting from Application of the Lower-Of-Cost-Or-Market Rule Is