After Evaluating the Lower of Cost and Net Realizable Value

question 147

Multiple Choice

After evaluating the lower of cost and net realizable value of inventory,the accountant prepares a year-end adjustment.That adjustment would:

• A)Decrease the company's cost of goods sold.
• B)Reduce the company's stockholders' equity.
• C)Increase the company's inventory.

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Definitions:

Involuntary Group Members

Individuals who are part of a group or organization not by choice but because of circumstances or obligations.

Techniques

Methods or procedures used to accomplish a specific task or achieve a particular result, often within a professional, artistic, or scientific context.

Resistant

Exhibiting opposition or defiance against something or someone, often seen in response to change or authority.

Working

Engaging in physical or mental activities towards the achievement of a task or goal.