Using 'lower of cost and net realizable value' for the purpose of inventory valuation is the implementation

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Using 'lower of cost and net realizable value' for the purpose of inventory valuation is the implementation of which of the following concepts?

A. The going concern concept

B.The separate entity concept

c.The prudence concept

D.Matching concept

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0176509736

10th Canadian Edition, Volume 1

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

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Posted Date: Jan 06, 2024 09:54 AM

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Using 'lower of cost and net realizable value' for the purpose of inventory valuation is the implementation

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Intermediate Accounting

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