What is the designated market value? What is it ultimately compared to?
Answer:
- often ceiling and floor, when designated as replacement cost are called this. can also use true replacement cost as designated market value if replacement cost falls b/w ceiling and floor.
- ultimately compared to inventory's cost when using LCM method
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.