The Lower-Of-Cost-Or-Market Value (LCM)rule ________

Multiple Choice

The lower-of-cost-or-market value (LCM) rule ________.

A) replaces the use of specific identification, FIFO, LIFO, or weighted-average inventory costing methods.
B) violates the conservatism principle
C) requires that merchandise inventory be reported in the financial statements at the lower of the historical cost or the selling price of the inventory
D) is an accounting issue separate from applying an inventory costing method