Accounting
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Boundless Accounting
Controlling and Reporting of Inventories
Accounting Textbooks Boundless Accounting Controlling and Reporting of Inventories
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Accounting

Section 5

Additional Topics in Inventory Valuation

Book Version 3
By Boundless
Boundless Accounting
Accounting
by Boundless
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Lower of Cost or Market

In lower of cost or market (LCM), inventory items are written down to market value when the market value is less than the cost of the items.

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Methods in Retail Inventory

For some companies, taking a physical inventory is impossible or impractical so the Retail Inventory Method is used to estimate.

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