Can Inventory Be Valued Above Cost? If so, how?
Yes; This exception must be justified by:
- An inability to determine appropriate costs
- Immediate marketability of the inventory at a quoted market price
- The interchangeability of the units of inventory
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.