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the cost principle GAAP (generally accepted accounting principles) is violated by using this method of inventory cost flow as is the principle of conservatism as using this method will create the largest amount of net income which is good to show shareholders, bad for tax purposes and contradicts these two GAAP's.
What else can I help you with?
The lower of cost or market basis of valuing inventories is an example of?
conservatism
The situation that requires a departure from the cost basis of accounting to the lower of cost or market basis in valuing inventory is necessitated by?
Decline in the value of inventory
If the fair market value of the gifted property on the date it was received is lass than the donors adjusted basis then the basis used to the calculate loss is the?
If the fair market value of the gifted property on the date it was received is less than the donor's adjusted basis, the basis used to calculate a loss upon the sale of the property is the fair market value at the time of the gift. This means that if the property is sold for less than its fair market value, the loss is calculated using that lower value rather than the donor's higher adjusted basis. Conversely, if the property is sold for more than the fair market value but less than the donor's basis, the basis for gain calculation would still be the donor's adjusted basis.
How do you calculate adjusted cost basis in Sara Lee?
The best way to calculate adjusted cost for Sara Lee is to assess the market. If the product is not selling well they need to lower the price.
What inventory method does Walt Disney use?
Carrying amounts of merchandise, materials, and supplies inventories are generally determined on a moving average cost basis and are stated at the lower cost of market.
What is the web address of the Lower Makefield Historical Society in Yardley Pennsylvania?
The web address of the Lower Makefield Historical Society is: www.lowermakefieldhistoricalsociety.
What is the phone number of the Lower Pottsgrove Historical in Pottstown Pennsylvania?
The phone number of the Lower Pottsgrove Historical is: 610-323-3121.
Where is the Lower Lake Historical School Preservation Committee in Lower Lake California located?
The address of the Lower Lake Historical School Preservation Committee is: Po Box 1762, Lower Lake, CA 95457
Why does the price of Silver change on a daily basis?
The price of silver can fluctuate by up to 37pence a daily basis, depending on how the market is. If silver is selling for a,lot the demand is high so the price paid will be higher, whereas if silver is selling for less then the demand is lower so the price paid reflects this.
Where is the Lower Makefield Historical Society in Yardley Pennsylvania located?
The address of the Lower Makefield Historical Society is: Po Box 228, Yardley, PA 19067
What is the phone number of the Lower Merion Historical Society in Bala Cynwyd Pennsylvania?
The phone number of the Lower Merion Historical Society is: 610-664-3216.
What is the web address of the Lower Lakes Marine Historical Society in Buffalo New York?
The web address of the Lower Lakes Marine Historical Society is: www/llmhs.org
