Question: I have the answer but could you explain it (20) 20. Lower-of-cost-or-market requires that FIFO inventory be reported in the financial statements at whichever is

I have the answer but could you explain it

(20) 20. Lower-of-cost-or-market requires that FIFO inventory be reported in the financial statements at whichever is lower of historical cost and: A. market value. B. net realizable value. C. replacement cost. D. FIFO cost

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