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    Intermediate Accounting Study Set 9
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    Exam 9: Inventories: Additional Valuation Issues
  5. Question
    The Purpose of the "Floor" in Lower-Of-Cost-Or-Market Considerations Is to Avoid
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The Purpose of the "Floor" in Lower-Of-Cost-Or-Market Considerations Is to Avoid

Question 70

Question 70

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The purpose of the "floor" in lower-of-cost-or-market considerations is to avoid overstating inventory.

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