Question: Hank Artisan is studying for the next accounting midterm examination. What should Hank know about (a) Departing from the cost basis of accounting for inventories

Hank Artisan is studying for the next accounting midterm examination. What should Hank know about
(a) Departing from the cost basis of accounting for inventories and
(b) The meaning of "market" in the lower-of-cost-or-market method?

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