Which of the below is correct about inventory valuation on the balance sheet? 

 a. Inventory is shown at current fair value at the end of each reporting period (quarter). 

b. Inventory is shown at cost, less accumulated amortization, at the end of each reporting period (quarter). 

c. Inventory is shown at the Lower of Cost or Market, or the Lower of Cost or Net Realizable Value, at the end of each reporting period (quarter). 

d. Inventory is shown at cost, less accumulated depreciation, at the end of each reporting period (quarter).

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The detailed answer for the above question is provided below c Inventory is shown at the Lower ... View the full answer