ACC 304 Experience Tradition / tutorialrank.com ACC 304 Experience Tradition / tutorialrank.com | Page 78
23. When valuing raw materials inventory at lower-ofcost-or-market, what is the meaning of the term " market "?
a. Net realizable value
b. Net realizable value less a normal profit margin
c. Current replacement cost
d. Discounted present value
23. When valuing raw materials inventory at lower-ofcost-or-market, what is the meaning of the term " market "?
a. Net realizable value
b. Net realizable value less a normal profit margin
c. Current replacement cost
d. Discounted present value