What assumptions are necessary for the lower of cost or market retail inventory method to actually produce

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What assumptions are necessary for the lower of cost or market retail inventory method to actually produce an inventory value equal to the lower of average cost or market?

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Question Posted: Mar 10, 2012 06:17 AM

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What assumptions are necessary for the lower of cost or market retail inventory method to actually produce

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