Inventory That Originally Cost $100 Had Been Written Down to Its

question 10

True/False

Inventory that originally cost $100 had been written down to its net realizable value (NRV) of $75.Subsequently, the NRV of the inventory recovered to equal its cost of $100.In this situation, the amount of the $25 ($100 - $75) prior writedown in value should be reversed.

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Definitions:

Spearman's Rank Correlation

A non-parametric measure of rank correlation that assesses the strength and direction of association between two ranked variables.

Productivity

The rate at which goods or services are produced, often considered in terms of output per unit of input.

Dexterity

Skill in performing tasks, especially with the hands.

Spearman's Rank Correlation

A nonparametric measure of the strength and direction of association that exists between two variables measured on at least an ordinal scale.