Under the LIFO or Retail Inventory Method the Net Realizable

question 63

True/False

Under the LIFO or retail inventory method the Net Realizable Value is considered the ceiling that prevents inventory from being valued at amount higher than what the company could reasonably sell it.

---

Definitions:

Truss

A framework, typically consisting of rafters, posts, and struts, supporting a roof, bridge, or other structure.

Protruding Mass

A lump or bulge that visibly extends out from the surface of the body or any of its structures.

Laparoscope

A surgical instrument used for viewing the inside of the abdominal cavity, allowing for minimally invasive procedures.