What is the floor and what is it defined as in terms of NRV?
Answer:
Floor = lower limit on designated market value
Defined as NRV of inventory LESS an allowance for the appropriate normal profit margin.
What is the floor and what is it defined as in terms of NRV?
Answer:
Floor = lower limit on designated market value
Defined as NRV of inventory LESS an allowance for the appropriate normal profit margin.
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