Examlex
Match each term with the most appropriate statement.
-MHCs
Net Realizable Value
The estimated selling price of goods minus any costs associated with their sale or disposal.
Merchandise
Goods that are bought and sold in the course of business, often referred to in the context of retail or wholesale trading.
Lower of Cost or Market
An accounting principle stating that inventory should be recorded at either its historical cost or its market value, whichever is lower.
Inventory
Items such as raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale in the ordinary course of business.
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