lower of cost or market

Tag: lower of cost or market

Lower of Cost or Market (LCM)

See Also: Accounting Principles Accounting Concepts Generally Accepted Accounting Principles (GAAP) How to manage inventory Inventory Cost Lower of Cost or Market (LCM) Definition Lower of cost or market accounting is generally based off of the accounting concept conservatism. It generally states that certain accounts should be stated at their historical costs or market costs

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