Describe the LCNRV.
Answer: LCNRV requires companies to compare their inventory cost to its net realizable value AT year end. If net realizable value is lower, inventory should be written down.
Describe the LCNRV.
Answer: LCNRV requires companies to compare their inventory cost to its net realizable value AT year end. If net realizable value is lower, inventory should be written down.
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.