Question: Josh Kuchin is studying for the next accounting mid-term examination. What should Josh know about? (a) Departing from the cost basis of accounting for inventories

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

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