How should trade discounts be dealt with when valuing inventory at LCNRV?
A. Added to cost
B. Ignored
C. Deducted in arriving at net realizable value
D. Deducted in arriving at cost
Answer: D. Deducted in arriving at cost
How should trade discounts be dealt with when valuing inventory at LCNRV?
A. Added to cost
B. Ignored
C. Deducted in arriving at net realizable value
D. Deducted in arriving at cost
Answer: D. Deducted in arriving at cost
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.